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Chagee Files for $100M IPO Amid U.S. Expansion

3/25/2025

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Summary

Story summary

Chagee, a Chinese bubble tea chain, has filed for a U.S. IPO on Nasdaq, seeking to raise up to $100 million.
The company will open its first U.S. store in Los Angeles this spring, expanding its 6,400+ teahouse network in Asia.
Founded in 2017, Chagee reported $1.7 billion in revenue and $344.5 million in net income for 2024.
This IPO occurs amid heightened scrutiny of Chinese firms in the U.S. following the Luckin Coffee scandal.

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Story summary

Chagee, a Chinese bubble tea chain, has filed for a U.S. IPO on Nasdaq, seeking to raise up to $100 million.
The company will open its first U.S. store in Los Angeles this spring, expanding its 6,400+ teahouse network in Asia.
Founded in 2017, Chagee reported $1.7 billion in revenue and $344.5 million in net income for 2024.
This IPO occurs amid heightened scrutiny of Chinese firms in the U.S. following the Luckin Coffee scandal.