Want To Invest In A Small Part Of Lubbock’s Newest Coffee Addiction?
Without question, one of the brightest spots in the Lubbock beverage scene has been the rise of Dutch Bros. It's rare when the lines at the popular drive-thru coffee stand aren't at least 7-8 cars deep, especially at the 19th Street location, but it moves fast, and the drinks are amazeballs. I think I've used my Dutch Bros app more in the past month than Google Maps.
As you can see...I'm a big fan of that Electric Berry Lemonade on a hot day. Even though I've had some misunderstandings with the Dutch Bros Social Media Team (Right, Chad?) I'm a fan, and had hoped that there would be a way to invest in the company without using my Dutch App.
Well, armchair investors, your wait is coming to an end soon.
This past Friday, Dutch Bros announced their Initial Public Offering (IPO), in which they announced that the company was planning on raising $100 Million for future expansion and current locations. They will ultimately trade under the stock symbol "BROS", which may be the coolest stock symbol, ever.
The chain, which started as a coffee pushcart in Grants Pass, Oregon in 1992, has 471 locations and has expressed the desire to expand to an estimated 4,000 locations at some point. That's serious expansion, and one can hope that they don't get "too big" for their own good. Remember Krispy Kreme? Yeah...that worked out back in the 90's.
With 2 locations in Lubbock, Dutch has stated that they plan on adding more locations in short order. My first thought would be anywhere near the Texas Tech campus, and also South Lubbock, below 98th somewhere. Gotta fish where the fish are, right?
Now, if you'll excuse me, it's Electric Berry lemonade time...