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HS

Howard Schultz

06/04/24

@ Acquired

Bill Gates warned that Howard Schultz would acquire Starbucks Coffee Company and that he would never hear from Sam Strum again.

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Starbucks (with Howard Schultz)

@ Acquired

06/04/24

Related Takeaways

HS

Howard Schultz

06/04/24

@ Acquired

Bill Gates Sr. helped me secure funding after I shared my vision for Starbucks, which was crucial for the company's future.

HS

Howard Schultz

06/04/24

@ Acquired

I raised the money to buy Starbucks Coffee Company with the help of Bill Gates and my son.

HS

Howard Schultz

06/04/24

@ Acquired

I faced significant challenges raising $3.8 million to buy Starbucks, including competition from investors who wanted to take over the company without due diligence.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks was originally a small-time Seattle roaster that only sold beans before I took over and expanded it.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks started as a small chain selling only coffee beans, not beverages, and was founded by Jerry Baldwin, Zev Siegl, and Gordon Bowker in 1971.

HS

Howard Schultz

06/04/24

@ Acquired

The original Starbucks founders had transitioned to Peet's Coffee, which opened coffee bars many years later.

HS

Howard Schultz

06/04/24

@ Acquired

I decided early on not to franchise Starbucks because I believed it would compromise the company's culture and ability to maintain quality.

HS

Howard Schultz

06/04/24

@ Acquired

We struggled in China for nearly a decade, facing significant financial losses until Belinda Wang joined and changed the course of Starbucks in that market.

HS

Howard Schultz

06/04/24

@ Acquired

Starbucks was seven months away from insolvency, and I had to communicate the gravity of our situation to employees, emphasizing that we were trying to save the company.