Starbucks rival Luckin Coffee files to go public in the US

news.crunchbase.com

My former colleague and now Crunchbase editor Alex Wilhelm called the filing "amazing."

"I have no idea what this company is worth, how big it will get, or what it’s current health is," said Wilhelm, who has looked through filings on a near-daily basis for going on a decade.

His is the link you can read here -- if you're going to test the public markets in the US, test the media in the US first -- but there are plenty of reports from Asia-centric reporters covering the company with more local context.

In case you never heard of it: Luckin is aiming to displace Starbucks in China using a strategy that puts significant emphasis on delivering orders placed through a mobile app. Starbucks is famous for its real estate play, Luckin is nearly entirely digital, at least in its customer touch points. Mostly it has collection stations where it makes and ships out orders, but there are some coffee shops.

Already, the Luckin factor forced Starbucks into a digital delivery deal with Alibaba -- I wrote about that last year -- and similar startups have already sprouted in Southeast Asia, including Indonesia's Fore Coffee which has already raised $9.5M. It'll be interesting to see how the listing fares.

Further reading: My TechCrunch colleague Rita Liao wrote about Luckin's 'money is no object' strategy earlier this year link

Meanwhile, a Luckin clone -- Coffee Box -- just raised $30M link

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