Frank Raffaele's Coffeed donates a share of its sales to local nonprofits. Who gets credit for his success? Landlords.
by Amanda Fung
Frank Raffaele has donated more than $200,000 to local charities through his philanthropic artisanal coffee company, Coffeed, and he wants to give more.
Raffaele is looking to raise $6 million to $10 million from outside investors for the Long Island City-based coffee-shop concept he founded in 2012 and hopes to one day make into a billion-dollar company. So far, he has grown the it organically, to a dozen locations in the New York area, from Bryant Park and Korea Town to Port Washington, L.I., and a branch in Seoul, South Korea. Raffaele estimates that revenue grew 300%, to $5 million, in 2015 from a year earlier....
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