In 1999, three investors start a local coffee shop. By 2004, the original shop has expanded to six locations but is still owned by the three original investors. In 2011, the chain has now expanded to 640 locations in eight states, the original investors decide they will take the company public, and it is traded on the NASDAQ stock exchange. How would this company be defined in 2004?

Question

Quizplus · Accepted Answer

In 2004, the company was still owned by the three original investors and had not yet gone public, which means it was privately or closely held.

In 1999, Three Investors Start a Local Coffee Shop