China’s Luckin Coffee has registered plans with the SEC to go public on the Nasdaq, setting a placeholder amount of $100 million, shows its filing. The development comes less than a week after the 18-month-old company announced $150 million in Series B “plus” funding led by the private equity firm Blackrock, which pumped $125 million into the company in a deal that values Luckin at $2.9 billion. As TechCrunch reported last Wednesday, Blackrock also owns a nearly 7 percent stake in Starbucks, the nearly 50-year-old American coffee company that has taken over the world and now finds itself in a knock-down-drag-out battle with the Beijing-based upstart. It’s hard to blame Blackstone — which has itself raised $126 billion(!) over the last 12 months — for hedging its bets.

Topics:  china s luckin coffee   sec   nasdaq   as techcrunch   american   beijing-based   it s   blackstone   series a   july   december   luckin s   joy   gic   legend   luckin   china   series b   blackrock   starbucks   capital   million   years   billion   announced   plans   company   number   raised   cities   stores   opened   double   including   
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