On Tuesday, Sept. 14, Dutch Bros Coffee announced the pricing of its IPO on the New York Stock Exchange at $23 a share. By the end of the day, prices had climbed to roughly $37 per share — though that might not come as a surprise to most Oregonians.
What began as a single coffee stand in 1992 has now become a company with its foot in 471 shops spread over 11 states. And on its first day on the market, Dutch Bros raised around $484 million.
This morning, Dutch Bros Coffee Executive Chairman Travis Boersma told KDRV that the whole process has “been a mind blow.” Boersma later continued to express excitement over what the company has become since its humble beginnings. He said, “We’ve defied the odds, and I couldn’t be more ecstatic about where it sits and what’s happening… it’s surreal.”
Fans of Dutch Bros may know them for their delicious drinks or the bubbly attitude of those who work there. Or perhaps you know their name thanks to their multiple philanthropic efforts — such as their recent Drink One For Dane day.
Drink One For Dane began after Dutch Bros co-founder, Dane Boersma, was diagnosed with Amyotrophic Lateral Sclerosis (ALS). Since then, the company has raised more than $10.3 million to support MDA’s ALS care and research.
Boersma also told KDRV that their business plans and attitude are unchanged after going public. They aim to maintain their focus on promoting growth in their communities and with their employees, “…as long as I’m captain of the ship.”