![]() We’ll do all those things if the experience is better than you can get at home.”īut Hashemi also considers his concept to be as much a time-saver as anything. “It doesn’t matter what business you’re in today, the reality is we can all do great things at home-shopping at home, working at home, watching movies at home,” Hashemi said. Movie theater box office receipts, meanwhile, declined by 20% this past summer. Restaurant traffic, especially at dine-in focused casual-dining chains, has been weak for the past two years. “We’re turning these auditoriums into performing theaters,” he said.īoth restaurant chains and movie theaters have struggled in recent years with a consumer that is as reluctant as ever to leave the house. This year, the company has 300 such events booked. “We sold out every single show we put on.” Last year, the company began booking live shows and VIP events inside of its theaters, including comedy shows, magic shows and gaming events. The rest comes from special events and partnerships. Less than a third of its sales come from box office receipts. More than half of the $69.4 million in revenues the company generated in the first half of 2017 came from the sale of food and beverage. The company operates 16 locations, 10 of which operate full-service restaurants in addition to movie theaters. ![]() IPic is part of a generation of companies such as Topgolf and Dave & Buster’s, among others, that seek to blend dining and entertainment. IPic is the second restaurant company to close a Regulation A+ IPO, otherwise known as a mini IPO, after Fatburger owner Fat Brands last year. “Our goal was always to take the company public and turn our members into shareholders of the company,” iPic CEO Hamid Hashemi said in an interview with Restaurant Business. In iPic’s case, that meant the chain’s 1.8 million loyalty club members. The IPO was done under Regulation A+, a relatively new regulation that enables smaller companies to raise smaller amounts not only from institutional investors but also their own customers. The company said it had planned to sell more than 2 million shares. The offering was considerably smaller than the $40 million that iPic initially said it planned to raise. Fundamental company data provided by Morningstar, updated daily.The Boca Raton, Fla.-based company also said that it closed a $2.5 million private placement from an affiliate of one of its existing investors, Regal Cinemas, which had previously invested $12 million at $18.13 per share. Stock quotes provided by InterActive Data. The gurus listed in this website are not affiliated with, LLC. ![]() The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Past performance is a poor indicator of future performance. In no event shall be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on, or relating to the use of, or inability to use, or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Gurus may be added or dropped from the GuruFocus site at any time. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Under no circumstances does any information posted on represent a recommendation to buy or sell a security. This investment adviser does not provide advice to individual investors. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. is not operated by a broker or a dealer.
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