when did starbucks become a publicly traded company
June 1992 1992
title: Starbucks text: Midwest, and annually Starbucks was roasting over of coffee. At the time of its initial public offering (IPO) on the stock market in June 1992, Starbucks had 140 outlets, with a revenue of US$73.5 million, up from US$1.3 million in 1987. The company's market value was US$271 million by this time. The 12% portion of the company that was sold raised around US$25 million for the company, which facilitated a doubling of the number of stores over the next two years. By September 1992, Starbucks' share price had risen by 70% to over 100 times the earnings per share of title: Public company text: Public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are freely traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be listed (listed company) or unlisted (unlisted public company). Public companies are formed within the legal systems of particular nations, and therefore have national associations and formal designations which are distinct and separate. title: Starbucks text: competition from lower-price fast food chains, including McDonald's and Dunkin' Donuts. Starbucks announced it would discontinue the warm breakfast sandwich products they originally intended to launch nationwide in 2008 and refocus on coffee, but they reformulated the sandwiches to deal with complaints and kept the product line. , the chief operating officer of Starbucks was Troy Alstead, though at that time he announced he was taking an extended leave of absence of undetermined length. Subsequently, Kevin Johnson was appointed to succeed Alstead as president and COO. In October 2015, Starbucks hired its first Chief Technology Officer, Gerri Martin-Flickinger, to lead title: Starbucks text: on April 3, 2017, and Howard Schultz retired to become Chairman Emeritus effective June 26, 2018. In 2018, Starbucks expanded its partnership with Uber Eats to bring its beverages to US customers' doorsteps, as it had already done for some time in China. The first Starbucks opened in Seattle, Washington, on March 31, 1971, by three partners who met while they were students at the University of San Francisco: English teacher Jerry Baldwin, history teacher Zev Siegl, and writer Gordon Bowker were inspired to sell high-quality coffee beans and equipment by coffee roasting entrepreneur Alfred Peet after he taught them title: Starbucks text: Starbucks Starbucks Corporation is an American coffee company and coffeehouse chain. Starbucks was founded in Seattle, Washington in 1971. As of 2018, the company operates 28,218 locations worldwide. Starbucks is considered the main representative of "second wave coffee", initially distinguishing itself from other coffee-serving venues in the US by taste, quality, and customer experience while popularizing darkly roasted coffee. Since the 2000s, third wave coffee makers have targeted quality-minded coffee drinkers with hand-made coffee based on lighter roasts, while Starbucks nowadays uses automated espresso machines for efficiency and safety reasons. Starbucks locations serve hot and cold drinks, whole-bean coffee, microground