[Homeroast] In case you missed it

Phil Palmintere phil.palmintere at gmail.com
Wed Oct 17 10:11:31 CDT 2012


There is an article in the Wall St Journal that might be of interest to list
members.

 

http://online.wsj.com/article/SB10000872396390443675404578060722851040736.ht
ml

 

" SAN FRANCISCO-There is a frothy new deal in Silicon Valley, and it gives a
taste of where some investors are pouring money these days.

 

A group of well-known technology investors has bought a $20 million
controlling stake in Blue Bottle Coffee, a specialty coffee retailer that is
gaining fame among the Bay Area's hipsters. Among the group: Tony Conrad, a
partner at True Ventures, Google Ventures, Twitter Inc. co-founder Evan
Williams, and Kevin Rose, the founder of the Digg website.

 

"It's the Apple of coffee," says Mr. Conrad, who will be the company's
largest investor, through his firm.

 

Blue Bottle, based in Oakland, Calif., is a tiny chain with locations in San
Francisco and Manhattan. It is part of what coffee aficionados call the
"third wave" of coffee, defined by premium micro-roasters like Stumptown
Coffee Roasters.

 

These boutique labels have drawn plenty of investor dollars. Private-equity
firm TSG Consumer Partners, a former backer of Vitamin Water, bought a large
stake in Stumptown last year. Jack Dorsey, Twitter's other founder, recently
made an investment in Sightglass Coffee, a San Francisco-based coffee brand.

 

The new Blue Bottle investment, which values the company at less than $30
million, also comes as other tech investors-having changed the world with
the social-networking revolution-are eagerly embracing food through a string
of investments and new start-ups."

 

It goes on from there.



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