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Hotdog cart-turned-burger chain files for IPO

Started as a public service in New York a decade ago, Shake Shack has more than 63 outlets in over 30 cities
Wednesday, December 31, 2014 - 05:50
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An instant success at the beginning, Shake Shack is aiming for a US$1 billion valuation in the IPO. It plans to open 10 new company-operated stores in the US each year starting in 2015.

New York

SHAKE Shack Inc is going public and may be worth as much as US$1 billion - not bad considering New York restaurateur Danny Meyer started the joint as a public service.

Founded more than a decade ago to help support the restoration of Manhattan's Madison Square Park, Shake