BUSINESS
03/28/2008 02:45 am ET Updated May 25, 2011

Pinkberry Gets Seed Money From Starbucks Chairman

Can a little pink swirl become as ubiquitous as a certain green mermaid logo?

The founders of Pinkberry, the company known for its sour frozen yogurt with esoteric toppings, apparently think so. The retailer that has inspired almost cultlike devotion will announce today that it has raised $27.5 million in its first round of venture capital.

Leading the financing is Maveron, a venture capital firm founded in 1998 by the Starbucks chairman Howard D. Schultz and Dan Levitan, a former investment banker. Among the firm's previous investments were eBay, from which it wrung a nearly $148 million gain, and Shutterfly, the online photo-printing site.

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