Acquired3 Huhti 2017

Episode 34: The Starbucks IPO with Dan Levitan

Ben & David "pour over" the 1992 IPO of the legendary Seattle coffee company with the help of Dan Levitan, who served as lead investment banker on the IPO and who would later co-found the venture capital firm Maveron with Starbucks’ CEO Howard Schultz.

Sponsors:

Sentry: https://bit.ly/acquiredsentry
WorkOS: https://bit.ly/workos25
Anthropic: https://bit.ly/acquiredclaude25
Statsig: https://bit.ly/acquiredstatsig26

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Topics covered include:

The original Starbucks’ founding as a coffee bean roaster, started by three disciples of the legendary coffee roaster Alfred Peet
Howard Schultz’s introduction to Starbucks, his joining the team as director of marketing, and inspiration behind his “third place” coffee shop vision
Howard’s departure from the original Starbucks, founding of Il Giornale, and subsequent of acquisition the Seattle Starbucks stores
Starbucks’ incredible growth following the acquisition and expansion beyond Seattle
The state of raising private capital in the 1980’s/90’s, and the decision to go public (link to the S-1)
Howard’s ambitious goals for the roadshow and investor participation, and subsequent stock performance after the IPO
The narrative and evolution of Starbucks as a technology company, or a consumer company that leverages technology very effectively

The Carve Out:

Ben: Dan Primack’s new daily newsletter, Pro Rata
David: The Wizard and the Bruiser podcast
Dan: The Man in the Glass

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