Less than two years after raising $20 million in investment funding, the coffee nerds at California-based Blue Bottle Coffee are at it again: Re/Code reports that the ever-growing coffee company has just raised an additional $25.75 million in funding. This new round of investments came from "high-profile Internet players" and Morgan Stanley Investment Management (which did not invest directly, but rather on behalf of various mutual funds and "investment vehicles"). So what will the coffee shop do with its piles and piles of money?
The company has major expansion plans. Blue Bottle founder James Freeman says leases have been signed in Oakland, Palo Alto, Los Angeles, Manhattan, and Brooklyn. According to a post on the Blue Bottle blog, there are also plans for a new R&D facility where they can "to workshop green coffee, roasted coffee and the food." The company will also use the funds to travel more and source more coffee directly, create sustainable packaging, and release bottled ice coffee. In the words of the company's own blog post: "You will, in short, be seeing more of us."
· Blue Bottle Coffee Gets $25.75 Million in Funding [Re/Code via ISSF]
· A Note About Today's News [Blue Bottle Coffee Blog]
· All Blue Bottle Coffee Coverage on Eater [-E-]