This Chinese Fast-Food Chain Is Topping McDonald's And Starbucks After IPO Surge

Mixue Ice Cream and Tea has become the world's largest food-and-beverage chain by store count, surpassing McDonald's and Starbucks. The company reached 45,000 stores last year after doubling its locations in three years, according to Technomic. Mixed raised over $400 million in its Hong Kong IPO on Monday, with shares surging nearly 30%, valuing the company at over $10 billion. The brand’s affordability, low franchising fees, and viral marketing, including its Snow King mascot and jingle, have fueled its popularity.