Rappler's latest stories on Luckin Coffee
The Chinese company, which will debut on the Nasdaq on Friday, May 17, sets its share price at $17, at the high end of the range it announced in May
Luckin estimates its offering size at $100 million in its filing Monday, April 22, with the US Securities and Exchange Commission. It notes the figure is only set to calculate registration fees.
The Chinese upstart is burning through millions of dollars to lure customers with steep discounts, challenging Starbucks' dominance by targeting office workers and students who prefer to have their java on-the-go or delivered to their doorstep
Just a year in the business, Luckin Coffee will open 2,500 stores this year to dislodge Starbucks and become China's largest coffee chain
Watch Rappler’s midday newscast with Ralf Rivas
Starbucks products ordered by mobile apps will be brought to customers by Ele.me, Alibaba's food-delivery unit