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Venture Capital - Tuesday, October 16, 2007

Trendy Frozen Yogurt Shop Pinkberry Raises $27.5M

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Sometime back in the 80's frozen yogurt shops were all the rage and a few companies made a go of building chains around them. That fad seemed to have faded quickly with the trend baton being passed to smoothie stores along the way. But frozen yogurt is back in a big way this time with an Asian twist and of course coming out of LA.

Maveron, the Seattle based VC firm founded by Starbucks' Howard Schultz, has led a $27.5M round into Pinkberry.
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Pinkberry currently has 32 stores in Los Angeles and New York and has seen knock-offs come rushing in. If you haven't been, they have only two flavors - regular and green tea but you can get toppings.
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Read - LA Times

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