updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131Cava filing for IPO could trigger an active year of public debuts compared to 2022.
Mediterranean fast-casual restaurant chain Cava has confidentially filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). This is the first restaurant company to take a step toward a public debut since the year started. Also, Cava has cleared the way for other restaurants that may want to consider IPO after a record of low public debuts last year. From the Ukraine invasion by Russia to the rising inflation, there were fears of a possible recession that caused many companies to withdraw their intentions to go public.
Cava announced its confidential IPO filing on the 6th of February, with no specificities on the number of shares to be offered. Also, there is currently no fixed price range for the proposed offering. According to the company, the result of the Commission’s review and other factors will determine the structure of the public offering. Cava also said its IPO is subject to the market’s conditions, considering the unexpected events that occurred last year.
Washington-based fast casual pizza restaurant chain MOD Pizza, Torchy’s Tacos, and Fogo de Chao indicated an interest in public offerings in 2021. Cava filing for IPO could trigger an active year of public debuts compared to last year. Per a post by The Wall Street Journal, more restaurant companies plan to test investors’ demand for new public offerings this year. Citing reliable sources, the report revealed that Fogo Hospitality Inc. aims to file for an IPO before the end of this year’s first half. Also, people familiar with Panera Brands Inc. said that the company wants to go public within the first half of 2023.
After its establishment in 2016, Cava Group opened its first fast-casual location in 2011. About seven years later, the company purchased Zoes Kitchen, becoming its parent company and taking the chain private. Now, one of the ways Cava is expanding its footprint is by converting all of Zoes Kitchen’s locations into new Cava restaurants. The Mediterranean company has developed over time and has the potential for continued growth. Pitchbook data shows that it generated $230 million in April 2021, pushing the company’s valuation to $1.71 billion.
Cava has always been making waves and headlines before the IPO reveal. It unveiled its first mobile order pickup windows in 2019 and planned to invest its 2021 funding into technology. The company has already committed $30 million to launch a processing facility in Virginia. The 57,000-square-foot facility was opened to enhance its products nationally. With more than 300 units, Cava’s same-store sales grew by 37% in 2021. This is despite the massive declines that ate up many businesses due to the coronavirus pandemic. Due to the location in the suburbs, the company could capture most of its consumers who were forced to stay at home amid the global health crisis.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
Shiba Inu (SHIB) Community To Launch Shiba Wings Restaurant In AustraliaThe SHIB Army will have another (SHIB) themed eatery in Gold Coast, Australia. The coastal city in Queensland is going to host Shiba Wings, a chicken restaurant with a crypto ATM installed on the premises. Australia’s first crypto diner has a logo of Shiba Inu with fiery wings, likely hinting at the SHIB burning mechanism.
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#SHIBA wings opening on the #goldcoast Australia . This is awesome #shibawings #cryptocurrency #SHIBARMYSTRONG pic.twitter.com/1aqb6WYy6s
— SHIB TOKENOMICS (@ShibaTokenomics) November 20, 2022
At press time, the popular Japanese guard dog themed memecoin SHIB is changing hands at $0.00000869, down by 4.20% in the last 24 hours. The crypto winter took a toll on the memecoin, with a 13.3% monthly deficit.
This has caused the canine currency to give way to Lido Staked Ether (stETH) for the 13th position in the crypto charts. Losing $200 million of its market capitalization over the last 24 hours, it now trades below the key resistance line of $0.000009 for the first time since 21st June, 2022.
In other related news, SHIB’s trading activity on Coinbase (NASDAQ:) once again maintained 91% of buys. The bullish signal from Coinbase users coincided with around 5000 new SHIB wallets on (ETH) network. According to WhaleStats, the total number of active wallets now is 1,279,882 with an average of 80,363,052,179 of SHIB held by the TOP 100 ETH whales.
SHIB Trading activity over the past 24h on @coinbase is:91% buy & 9% sell
— $SHIB ALEXANDER (@ShibAlexander) November 21, 2022
The two-year-old memecurrency project has a wide and active community. SHIB and arch nemesis (DOGE) sparked several bull runs for the altcoins in the past two years.
Get the scoop on top dog memecoins SHIB and DOGE:
Dogecoin (DOGE) Sees More Utility As Twitter Usage Hits Another All-Time High
Shiba Inu (SHIB) Main Developer Reveals Shibarium Progress on Twitter
Charles Hoskinson is ready to accept Cardano in his own restaurant
Charles Hoskinson, who is getting ready for the big opening of his own restaurant he announced back in July, stated that his business will accept cryptocurrencies as payment. Cardano will obviously be the preferred choice.
On June 22, Hoskinson shared a teaser-tweet in which he announced the opening of Nessie’s restaurant and a whiskey lounge in Wheatland, Wyoming, the city where Hoskinson lives. The business choice made some of his followers curious as the restaurant business and cryptocurrency development are industries that do not cross that often.
Yes
— Charles Hoskinson (@IOHK_Charles) October 30, 2022
However, the main reason behind opening the restaurant was the lack of good options in the town nearby Hoskinson’s ranch. During the announcement, Hoskinson confirmed that his restaurant will be crypto-friendly and has recently made the same claim again.
Some users suggested that Hoskinson should think about alternative Cardano-based payment options like the DJED stablecoin that has been brought up in the pro-Cardano narrative. By implementing the stablecoin in the business, the Cardano co-founder would be able to create a real-world use case for the asset immediately after the full launch.
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Through the last year, Cardano’s ecosystem saw exponential growth in the number of new solutions and use cases. The network became completely ready for the implementation of NFTs.
The DeFi side of the ecosystem also received a massive boost despite the problematic nature of the eUTxO mechanism in terms of handling numerous transactions in one block. Decentralized finance solutions are now working on the network stably.
Unfortunately, the price performance of Cardano still remains problematic as the asset cannot break the local resistance level at $0.41.
Talk about Dogecoin to your local coffee shop, your bookstore, your favorite restaurant, to any small business you may like. This is the way! #Dogecoin https://t.co/XEqEieQOlP pic.twitter.com/WZX6Xsn6bQ— Dogecoin (@dogecoin) July 11, 2022
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A cryptocurrency-based restaurant has opened in Dubai and is accepting payments in every major cryptoasset for food based on the meme-inspired cryptocurrency Dogecoin ($DOGE). The restaurant is a virtual one available through delivery.
According to Timeout Dubai, the virtual restaurant was launched by Rocket Kitchens, a chain of virtual restaurants, and its menu was “carefully curated by top chefs” to serve all-American favorites including signature beef, chicken, and mushroom Swiss burgers, among others.
The virtual restaurant reportedly accepts payments in all major cryptosassets, including $DOGE, $BNB, $CRO, $XRP, $USDT, and even rival meme-inspired cryptocurrency Shiba Inu ($SHIB). The restaurant is reportedly looking help boost crypto adoption in the UAE, with its founders being early DOGE adopters.
According to the outlet, the virtual restaurant was even founded using profit from the founders’ early bet on the meme-inspired cryptocurrency DOGE. It’s worth noting, however, that Doge Burger is not the first restaurant in the UAE to accept cryptocurrency payments, with some enabling the option as far back as 2014.
The restaurant is opening shortly after Tesla CEO Elon Musk and DOGE co-creator Billy Markus pushed McDonald’s to accept the meme-inspired cryptocurrency as a payment method.
As CryptoGlobe reported, Musk said on social media he would eat a Happy Meal on TV if McDonald’s accepted DOGE payments, in a push that saw several celebrities join in. In response, McDonald’s jokingly said Tesla would have to first accept “grimacecoin” first, a move that led to several fake grimacecoins seeing price explosions.
While the push did not work, rival fast-food chain MrBeast Burger, an American delivery-only fast-food chain founded by internet personality Jimmy Donaldson (AKA MrBeast), has tweeted at Elon Musk saying it will “work on” accepting the meme-inspired cryptocurrency if it got a retweet.
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
IMAGE CREDIT
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Leading electric vehicle company Tesla Inc (NASDAQ:TSLA) continues to add numerous Supercharger locations across the country. One planned upcoming location could lead to a new business line for the company.
What Happened: Plans from Tesla and CEO Elon Musk to add a restaurant and dine-in theater at a Supercharger location date back to 2018. The plans appear closer to fruition, with Musk saying that an undisclosed location in Hollywood, California will get a “diner and drive-in theater.”
The announcement from Musk comes after a Santa Monica Supercharger location recently opened and was originally slated to have the restaurant and theater. Musk also changed the wording of the restaurant from “retro-looking” to “futuristic.”
Reports indicate that building permits for the restaurant at the Santa Monica Supercharger location hit a roadblock, prompting the move to Hollywood.
Tesla filed trademarks for its brand name under the restaurant services sector in 2021.
“Tesla trademark registration is intended to cover the categories of restaurant services, pop-up restaurant services, self-service restaurant services, take-out restaurant services,” Electrek said at the time.
Related Link: Tesla Could Be Launching Restaurants At Charging Stations: Here’s Why
Why It’s Important: Musk’s plans for food and entertainment options at Supercharger locations have been around for years and signal potential revenue making opportunities for the company.
Charging a vehicle takes time, and that time could be used by vehicle operators at a restaurant or movie.
A photo from Electrek showed a food truck at the Santa Monica Supercharger location, but it is unclear if they paid Tesla to be parked in the lot or took advantage of the grand opening of the location. Some restaurants have in the past offered free delivery to nearby Supercharger locations, a move that doesn’t bring additional revenue to Tesla.
As Benzinga reported in 2021, Tesla could choose to partner with existing restaurant companies to build smaller footprint locations at the Supercharging stations, similar to fast-food restaurants inside gas stations and travel centers. This move could bring royalty revenue to Tesla.
Tesla ended the fourth quarter with 3,476 Supercharger locations. Not every location would be suited for a restaurant or dine-in theater, but some of the larger and most trafficked locations could bring additional revenue to Tesla with these added services.
Tesla is also working on opening up its Supercharger locations to other electric vehicle operators, something that could bring more traffic to charging locations and also potentially increase wait times.
The Hollywood Supercharger location is scheduled to open in the second quarter of 2022 according to a Supercharger location map.
The opening of a restaurant and movie theater at a Tesla Supercharger location could be a massive event and a newsworthy moment for the electric vehicle company. The opening could also move the price of a meme cryptocurrency, with Musk already promising that Dogecoin (CRYPTO: DOGE) will be accepted as payment at the diner and theater.
“And of course, you can pay in Doge,” Musk tweeted.
You can’t pay for your Tesla vehicle in Dogecoin, but merchandise on the company’s website can be bought with the cryptocurrency. By adding diners and theaters to Tesla-related items which accept Dogecoin, the Tesla CEO would be further connected to the well-known cryptocurrency.
Since Tesla has become a cult brand, the planned expansion into the restaurant services sector could attract an audience of people coming just to eat at the diner without even charging their vehicle.
Photo: Courtesy of mbeo on Flickr