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Bagel Startup Valued at $300M After Viral Success
11 Apr
Summary
- PopUp Bagels secured a $300 million valuation in a recent investment round.
- The company plans to expand to 300 locations across the US in four years.
- Founded during the pandemic, the brand gained popularity via TikTok.
PopUp Bagels recently secured a substantial investment from Tiger Global, valuing the company at $300 million. This valuation represents a five-fold increase from its valuation approximately five months prior, with the deal closing in late March. The company, known for its cult following and unique bagel offerings, is leveraging this investment to fuel national expansion.
The brand, which originated in a Connecticut backyard during the pandemic, has experienced remarkable growth, driven partly by viral social media hype. PopUp Bagels plans to open up to 300 locations across the United States over the next four years.
Currently, the company operates 29 stores and has recently expanded its presence to cities including Chicago, Boston, and locations in Florida. Prior to Tiger Global's investment, PopUp Bagels was valued at approximately $60 million in October, with private equity firm Stripes being its majority owner.
