Starbucks Corp is investing $100 million in a newly created fund that will be ma...
FILE PHOTO: A Starbucks logo hangs outside of one of the 8,000 Starbucks-owned American stores that will close around 2 p.m. local time on Tuesday as a first step in training 175,000 employees on racial tolerance in the Brooklyn borough of New York, U.S., May 29, 2018. REUTERS/Lucas Jackson
The fund, Valor Siren Ventures Fund, will later seek to raise an additional $300 million, the world’s largest coffee chain said on Wednesday, ahead of its annual shareholder meeting. Starbucks is the latest U.S. food company to invest in startups. The largest U.S. meat producer, Tyson Foods, started a fund called “Tyson Ventures” in 2016 to invest in businesses that focus on developing plant-based protein, while a clutch of other food and drink brands including Kraft Heinz and PepsiCo Inc have also set up similar funds.
The annual shareholder meeting comes as the coffee chain counters sluggish performance in its U.S. business through a revamp of its stores and introduction of fresher food and cold brews that has driven market-beating same-store sales in the past two quarters.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gates Joins Bezos as the Only Two Members of the $100 Billion ClubMicrosoft Corp. co-founder Bill Gates, once the world’s richest person, has again eclipsed the $100 billion threshold, joining Amazon.com Inc.’s Jeff Bezos in the exclusive club, according to the Bloomberg Billionaires Index. Gates’s fortune, now $100 billion on the nose, hasn’t reached such heights
Read more »
Dem super PAC launches first 2020 ads in $100 million campaignA leading Democratic super PAC launched its first digital ad campaign of the 2020 election cycle Tuesday after pledging to spend $100 million on early efforts in key battleground states.
Read more »
HK suspends UBS sponsor license, fines it and others $100 million for IPO failuresHong Kong's securities regulator banned UBS from leading initial public off...
Read more »
App Annie, one of Silicon Valley's most popular tools for measuring an app's success, crosses a $100 million milestone and unveils a product to launch another wave of growthAfter company culture changes, App Annie crossed $100 million in annual recurring revenue and launched a new product called Mobile Web intelligence.
Read more »
Mike Trout signs the biggest contract in U.S. sports history — 12 years and $432 millionTrout’s deal with the Los Angeles Angels is worth $100 million more than baseball’s next biggest contract.
Read more »
Boy Scouts welcome first girls joining local troop with brand-new uniformsThe boys of the troop used their own money to buy the uniforms, valued at approximately $100 each, as welcome gifts for the girls.
Read more »
Trading Frenzy Ahead Thanks to ‘Quadruple Witching’Friday marks a quarterly collision traders call ”quad witching,” when equity and index futures and options expire. Adding to the fun, dozens of S&P indexes are set to rebalance their holdings at the end of the day.
Read more »
19,000 truck drivers just scored up to $100 million from one of America’s biggest trucking companies — and it's the latest federal court win by truckers for better labor practicesTruck drivers have been fighting in the nation's courts to receive minimum wage and other labor benefits.
Read more »
Mike Trout, Angels reportedly finalizing largest deal in US sports history, a 12-year, $430 million extensionThe star outfielder, who was set to be a free agent following the 2020 season, is reportedly landing a contract worth $100 million more than Bryce Harper, whose 13-year, $330 million deal earlier this month was previously the largest in baseball.
Read more »