Chris Munn on Twitter: "Starbucks isn't a coffee company. It's actually a bank that sells coffee. Starbucks has built a $12 billion bank right under your nose. Here's how they did it:"

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Starbucks isn't a coffee company. It's actually a bank that sells coffee. Starbucks has built a $12 billion bank right under your nose. Here's how they did it:

Starbucks operates over 33,000 stores in 76 countries. They did $29B in revenue in 2021. But 41% of their revenue is exclusively gift card sales. The gift card is a flywheel for their business.

In 2001, Starbucks introduced their gift cards for the first time. Within 8 months, the company had already seen 4 million cards activated. This was the first sign they might be on to something.pic.twitter.com/Pakub7oTUB

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