Foundation, sales and expansion of Starbucks

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 – quality coffee beans and equipment by Alfred Peet roasted coffee business after he teach them their way of roasting grains. The company took the name of the first partner in the book Moby-Dick: Starbuck, after examining “Cargo House” and “Pequod”. Bowker recalls that Terry Heckler, who owned an advertising agency, thought the words beginning with “st” were powerful. The founders had a list of words beginning with “st” drawn up. Someone pulled an old mining map from the Cascade Range and saw a mining town called “Starbo” Bowker immediately put in mind the “Starbuck” character. Bowman said: “Moby-Dick has nothing to do with Starbucks directly, it was just a coincidence that sound sounded logical.”
The first Starbucks store in Seattle was located at 2000 West Avenue from 1971 to 1976. This cafe later moved to 1912 Pike Place; Never be moved. Meanwhile, the company sold only roasted whole coffee beans and coffee not yet ready to sell. The only coffee prepared in the store was free samples. In its first year of operation, they bought green Peet coffee beans, and then began buying directly from producers.
In 1984, the original owners of Starbucks, led by Jerry Baldwin, bought Peet. In the 1980s, total coffee sales in the United States declined, but specialty coffee sales increased, accounting for 10% market share in 1989, up from 3% in 1983. In 1986, Company operated six stores in Seattle and had barely started selling espresso.
In 1987, the original owners sold the Starbucks chain to former manager Howard Schultz, who changed his brand of coffee Il Giornale that Starbucks and quickly began to grow. In the same year, Starbucks opened its first locations outside of Seattle at Waterfront Station in Vancouver, British Columbia and Chicago, Illinois. In 1989 there were 46 stores throughout the Northeast and Midwest and each year Starbucks roasted more than 2,000,000 pounds (907,185 kg) of coffee.
At the time of its initial public offering (IPO) on the stock market in June 1992, Starbucks had 140 points of sale, with revenues of $ 73.5 million, compared with $ 1.3 million in 1987. The market value of Business was $ 271 million for that hour. 12% of the company that sold sold about $ 25 million for the company, which has facilitated a doubling of the number of stores in the next two years. In September 1992, the price of Starbucks shares rose 70% to more than 100 times the earnings per share the previous year.
As of July 2013, more than 10% of purchases in stores were made on mobile devices Starbucks customers with the app. The company once again used the mobile platform when it launched the “Tweet-a-CafĂ©” promotion in October 2013. This time, the promotion also involving Twitter and customers could buy a $ 5 US gift card For a friend to get into both “@ Tweetacoffee” and manage the friend in a tweet.Keyhole research firm oversaw the running of the campaign and an article by the media on December 6, 2013 reported that the company had found That 27,000 people had participated and $ 180,000 of purchases have been made to date.

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