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How an IPO is bringing Shake Shack to more people in more places

When Shake Shack was ready to go public, Barclays was instrumental in understanding – and articulating – the brand’s secret sauce.

It all started back in 2001, when famed restaurateur Danny Meyer set up a hot dog cart in New York City’s Madison Square Park. “All of a sudden 50 people lined up, 100 people lined up,” says Shake Shack CEO Randy Garutti. “And this hot dog cart became this incredible thing.”

From that moment on, fans couldn’t get enough of Shake Shack. The menu expanded beyond hot dogs, and the obsession only grew. Shake Shack’s attention to detail and “enlightened hospitality” stood out in a crowded market. A new category, known as “fine casual” dining, was born.

Catapulting forward

Over the next decade, Shake Shack opened new locations and continued to grow in popularity. Meyer and Garutti decided that the best way to access the capital needed for its expansion strategy was to take the company public.

Barclays was one of the banks that handled the initial public offering (IPO). Marco Valla, Barclays Co-Head of Consumer Retail Banking, and his team helped craft the story for investors, articulating how Shake Shack is disrupting the food and beverage industry and offering exactly the kind of value and experience that customers are looking for.

The company went public in January 2015, raising $120 million in the IPO. As of 2016, Shake Shack has 84 locations around the world, including London, Tokyo, Istanbul, Dubai and Moscow with plans to expand to Los Angeles, Phoenix, and beyond.

We’re at the nascent stage of this story. The opportunity to be the next generation’s burger joint is upon us, and we’re taking that opportunity.
Randy Garutti, CEO of Shake Shack

Shake Shack was born of the public for the public. And now that its shares are publicly traded, its guests can have their own bite of the company’s future.

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