It's going to be a happy new year for Danny Meyer (Union Square Hospitality Group) and the Shake Shack clan: Today, Shake Shack released its initial public offering in which the 10-year-old burger brand is looking to raise $100 million. As was previously reported, the company may indeed be worth $1 billion.
Shake Shack will trade on the New York Stock Exchange under the symbol SHAK.
It's been a wild ride for Shake Shack, which has grown from seven to 63 locations in four years. The company's revenue for the period ending in September is over $82 million, up from $19.5 million in 2010.
Today, Shake Shack opens its first location in Las Vegas proper, and its 64th location worldwide.
Shake Shack's growth, when viewed side-by-side with McDonald's slumping sales, could indeed mean big things are ahead for the beloved New York-based chain.