Black Rock Coffee Bar files for IPO, could be valued at over $1 billion

Scottsdale-based Black Rock Coffee Bar has filed paperwork for an initial public offering. Its revenue rose over 24% recently. What's that mean?

BY BRANDON BROWN/PHOENIX BUSINESS JOURNAL

Aug 22, 2025, 8:42 PM

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Black Rock Coffee Bar, which is expanding quickly in Arizona and has its corporate headquarters in Scottsdale, has filed paperwork for an initial public offering.

If the deal goes through, the drive-thru coffee chain will be following in the footsteps of Dutch Bros, which has moved its headquarters to Tempe and went public in 2021 with a valuation of more than $5 billion.

Terms of the offering were not disclosed in the IPO documents, but Reuters reported the cafe chain could be valued at more than $1 billion.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.