When I took over as CEO of Black Rock Coffee Bar in the spring of 2023, I inherited a company with something most leaders only dream of: a culture so strong that guests could feel it the moment they walked in the door. Baristas knew regulars by name and drink, asked first-timers about their day before steering them toward a flavor, and treated the counter like the start of a relationship instead of a transaction.
My job was to build up the business without ever touching what made Black Rock special: the personal connection our baristas create with guests every day. To keep that promise to myself, and to the business, I’ve leaned on a simple test: Having started in the restaurant industry as a bartender, would that version of myself respect how we treat our teams?
That question has anchored nearly every decision I’ve made over the past three years, including the one that changed our company most: taking Black Rock public on the Nasdaq last September.
Though we raised $294.1 million and reached a market value of roughly $1.32 billion, going public was never the end goal. It was a tool to propel the next chapter of growth.
Ringing the bell was a special moment. We marked it in New York City’s Times Square with friends and family, where our baristas served coffee and our signature drinks at a Black Rock pop-up. Just as I leaned on my old bartending instincts to protect our culture, I leaned on an even older trick to make sure the IPO itself went off without a hitch: relentless preparation.
We spent months building out our financial reporting, our operations bench and our leadership pipeline so that when we walked into rooms with bankers, lawyers and institutional investors, we were telling a story we were living every day: a model that travels, a brand with real staying power and, importantly, a barista-first culture.
That preparation mattered most during the roadshow — the stretch of back-to-back meetings where a company’s leadership pitches its story directly to the institutional investors deciding whether to buy in before the stock starts trading. It was a lesson in repetition and resilience. We told our story eight to 10 times a day. Every presentation required the same energy as the first. What made that possible was that everyone on our team, from our CFO to our founders, could speak to the same fundamentals because we’d aligned on them long before we ever walked into those meeting rooms.
Since the IPO, we’ve remained focused on scaling with discipline; opening new stores in a way that protects quality, culture and the guest experience. We’re investing in roasting capacity, distribution, and digital platforms so that our foundation keeps pace with expansion. Data-led site selection, flexible leases, and adaptive formats further reduce our risk as we enter new markets.
We’re continuing to grow at roughly 205 a year, building density deliberately in states where we already have roots, like Arizona, Texas and Colorado, before chasing new ones. I’d rather show up fully in seven states than thinly in 20. That’s how we protect the guest experience as we add stores.
Innovation is another key priority for us and remains a powerful growth engine. Our proprietary Fuel® energy line accounts for 25% of beverage sales, and seasonal offerings attract new guests and strengthen loyalty. This year, our first seasonal menu window delivered more than 60% year-over-year increase to our product mix, driven by guest feedback and rising demand for customization. That momentum has also paved the way for expanded offerings, including protein later in the year.
The throughline in all of it remains our people. We’ve put real structure behind that belief: expanding career pathways, strengthening internal mobility and ensuring our teams feel ownership as the company grows. One of the clearest indicators of our cultural strength is retention: baristas stay an average of three years — far above industry standards — reflecting the loyalty, belonging and pride our model inspires.
We’re still trying to do what we set out to do when I first walked through our doors and felt that unmistakable energy at the counter: build a company where baristas come first, guests feel like family and growth never costs us the thing that made the Black Rock experience special in the first place.
From One Stand to Wall Street
- Black Rock Coffee Bar began in 2008 as a 160-square-foot drive-thru in Beaverton, Oregon, founded by Daniel Brand and Jeff Hernandez.
- Mark Davis joined as CEO in 2023 after leading operations at Panera and Coffee & Bagel Brands, Einstein Bros. Bagels’ parent company. He wasn’t a regular coffee drinker before his first visit to a Black Rock but is now loyal to black coffee.
- The company now runs roughly 190 company-owned stores across seven states and debuted on the Nasdaq in September 2025, raising $294.1 million.
Did You Know: Black Rock runs two roasteries, in Vancouver, Washington, and Tempe, Arizona, sourcing beans from eight countries, including Brazil, Ethiopia and Colombia, to keep flavor consistent even when supply shifts. To ensure optimal freshness and quality, coffee served in stores is used within 14 days of roasting.
