Anyone who lives in NYC knows that gourmet cupcakes have been a major craze for years now, and the only thing that’s shocking, really, is that it hasn’t abated.
Dan Gross was declaring a cupcake bubble back in 2009.
NPR wondered about the same thing last summer.
But of course you can’t actually have a bubble without some kind of tradeable instrument. It’s not enough that they be popular.
Well, probably solved. According to Peter Lattman, Crumbs Bakery is going public in a reverse merger worth $66 million.
Crumbs, which is the largest chain of cupcake bakeries, did $31 million in revenue and $2.5 million in income in 2010. The company’s top-selling product cost $3.75.
The deal will close next month.