Shake Shack Officially Files IPO, Looks to Raise $100 Million
Shake Shack is looking to raise $100 million, and will trade on the New York Stock Exchange under the symbol SHAK.
Not surprisingly, documents filed with the SEC reveal that Danny Meyer’s 10-year-old burger chain has done well for itself. According to the company’s financial overview, total revenue for the three-year fiscal period ending on December 25, 2013 grew from $19.5 million to $82.5 million.
To date, the company operates 64 locations (a Las Vegas Shake Shack opens Monday, December 29), and will continue to open Shacks “in areas where communities gather, often with high foot traffic and substantial commercial density,” according to IPO documents.