The coffee chain Dutch Bros based in Grants Pass, Ore., saw record revenues in the third quarter of 2023 and raised $330 million through the sales of 13 million shares, each costing $26. Dutch Bros saw third-quarter revenue up $265 million, which is 33 percent higher than in 2022. Dutch Bros hopes to reach $1 billion in annual revenue this year. The third-quarter record follows a strong second quarter with 34 percent higher revenues than the previous year. The third quarter saw 39 new shops opened, including in Kentucky and Alabama, bringing the total to 794. The company hopes to increase that number in the next decade or so to more than 4,000 stores nationwide.
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