Acquired · Jun 4Starbucks (with Howard Schultz)
Craig Weatherup agreed on a napkin to a 50-50 joint venture after Coke gave Schultz under 30 minutes. Bottled Frappuccino sold out so fast that new factories were needed, and Frappuccinos were 7% of revenue by 1996.
Tips
- Schultz sold bottled Frappuccino through a napkin handshake with Pepsi after Coke dismissed him▶ 1:23:30Frappuccino was 7% of revenue by 1996, and the bottled version sold so fast it required new factories.
- Schultz initially dismissed Frappuccino and customization, but customers pulled Starbucks toward what it became▶ 1:22:30About 100,000 beverage variations are now made, and customization lifts ticket size because the customer sets the price increment.
