Tools
Search
Import
Library
Explore
Videos
Channels
Figures
Atmrix
About
Tools
Search
Import
Library
Explore
Videos
Channels
Figures
Atmrix
About
Go Back
HS
Howard Schultz
06/04/24
@ Acquired
When we first opened Starbucks, we were focused on no debt because of my childhood experiences with financial struggles.
Video
A
Starbucks (with Howard Schultz)
@ Acquired
06/04/24
Related Takeaways
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks had a 6:1 debt-to-equity ratio, which limited our ability to innovate due to high debt service payments.
HS
Howard Schultz
06/04/24
@ Acquired
In 2008, I returned to Starbucks amidst a financial crisis, where the market cap had plummeted from $30 billion to less than $7 billion, and we faced negative sales growth for the first time in our history.
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.
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
In 1982, I joined Starbucks as the head of marketing when they were preparing to open their fourth store, still focused solely on selling coffee beans.
HS
Howard Schultz
06/04/24
@ Acquired
Starbucks' success is rooted in creating a community space where people connect over coffee, which was a novel concept in the U.S. at the time.
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
I raised the money to buy Starbucks Coffee Company with the help of Bill Gates and my son.