Photo Credit: AZ Big Media
In a world where corporate giants dominate headlines, it’s refreshing to witness a genuine success story unfold right here in Scottsdale. Last week, our city’s own Black Rock Coffee Bar made its debut on the stock market, raising $294.1 million and achieving a valuation that soared above $1 billion.
But Black Rock’s journey to Wall Street began far from the desert landscape of Arizona. The company’s story started in 2008 inside a modest 160-square-foot drive-thru in Beaverton, Oregon, founded with a simple mission: to bring light to grey Pacific Northwest mornings. Founders Jeff Hernandez and Daniel Brand, two passionate coffee enthusiasts, started what would become an exponential growth story.
The company’s Scottsdale connection runs deeper than just corporate headquarters. Black Rock has called our city home since 2020, and today operates 46 locations throughout the Valley. What makes this story particularly compelling is how this Oregon-born company found its corporate home right here in Scottsdale, embracing the entrepreneurial spirit that defines our city.
Black Rock became the first major coffee brand to go public since Dutch Bros debuted in 2021, proving that innovative concepts and strong execution can still capture Wall Street’s attention. The company plans aggressive expansion, targeting 30 new stores in 2025 and approximately 20% annual growth, with ambitious plans to reach 1,000 stores by 2035.
For Scottsdale, Black Rock’s IPO success represents more than just another corporate milestone. It demonstrates that our city continues to attract and nurture businesses that can compete on a national scale. From a tiny Oregon drive-thru to a billion-dollar public company headquartered right here in Scottsdale, Black Rock Coffee’s story embodies the entrepreneurial dreams that make our city a destination for ambitious companies.
As Scottsdale residents grab their morning coffee, many are now supporting a local success story that proves big dreams and quality execution can still create extraordinary outcomes.