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Luckin Coffee filed on Monday for a U.S. IPO as it tries to overtake Starbucks for coffee chain dominance in China. 

The backdrop: The filing reports a 3,883% revenue increase between Q1 2018 and Q1 2019, with losses more than tripling over that same period. It comes just one week after Luckin raised $150 million at a $2.9 billion valuation in a funding round led by Blackrock, which is Starbucks' second-largest outside shareholder.

Go deeper: How Luckin is battling Starbucks in China

Starbucks' Chinese rival Luckin Coffee files for U.S. IPO

It comes a week after it raised $150 million at a $2.9 billion valuation.

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Luckin Coffee <a class="gtmContentClick" data-vars-link-text="filed" data-vars-click-url="https://www.sec.gov/Archives/edgar/data/1767582/000104746919002450/a2238391zf-1.htm" data-vars-content-id="a54ddd47-c293-4148-b53b-bd92223b7d48" data-vars-headline="Starbucks&#x27; Chinese rival Luckin Coffee files for U.S. IPO" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.sec.gov/Archives/edgar/data/1767582/000104746919002450/a2238391zf-1.htm" target="_blank">filed</a> on Monday for a U.S. IPO as it tries to overtake Starbucks for coffee chain dominance in China. The backdrop: The filing reports a 3,883% revenue increase between Q1 2018 and Q1 2019, with losses more than tripling over that same period. It comes just one week after Luckin raised $150 million at a $2.9 billion valuation in a funding round <a class="gtmContentClick" data-vars-link-text="led by Blackrock" data-vars-click-url="https://www.axios.com/starbucks-shareholder-backs-chinese-rival-luckin-dbc539c0-76a9-4207-8c92-0c3ab468eaeb.html" data-vars-content-id="a54ddd47-c293-4148-b53b-bd92223b7d48" data-vars-headline="Starbucks&#x27; Chinese rival Luckin Coffee files for U.S. IPO" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/starbucks-shareholder-backs-chinese-rival-luckin-dbc539c0-76a9-4207-8c92-0c3ab468eaeb.html" target="_self">led by Blackrock</a>, which is Starbucks&#x27; second-largest outside shareholder.Go deeper: <a class="gtmContentClick" data-vars-link-text="How Luckin is battling Starbucks in China" data-vars-click-url="https://www.axios.com/starbucks-alibaba-china-coffee-delivery-luckin-27f0dba6-30b2-47aa-8a81-01e0430809a2.html" data-vars-content-id="a54ddd47-c293-4148-b53b-bd92223b7d48" data-vars-headline="Starbucks&#x27; Chinese rival Luckin Coffee files for U.S. IPO" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/starbucks-alibaba-china-coffee-delivery-luckin-27f0dba6-30b2-47aa-8a81-01e0430809a2.html" target="_self">How Luckin is battling Starbucks in China</a>

China is becoming the most formidable rival America has faced, and the risk of confrontation with Russia, North Korea or Iran still looms. Authoritarians are rising, the chaotic Afghanistan exit revealed the limits of U.S. power, and the pandemic, climate change and other critical challenges continue to pose grave threats.