Dave’s Hot Chicken
A popular hot chicken chain famously backed by Drake.
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Dave’s Hot Chicken
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Dave's Hot Chicken began in 2017 as a quintessential American dream, with three childhood friends pooling $900 to open a humble pop-up in an East Hollywood parking lot. Their simple setup, featuring a portable fryer and folding tables, quickly gained traction thanks to Instagram and word-of-mouth. A glowing review from EATER/LA, proclaiming their hot chicken could "Blow Your Mind," ignited a phenomenon. Lines stretched around the block, prompting the team to open their first brick-and-mortar store. Their clear goal: to consistently deliver juicy, spicy, mind-blowing hot chicken that keeps fans coming back for that addictive first-bite experience.
The journey began in 2019 when Bill Phelps identified Dave's Hot Chicken's potential. He structured the IP partnership, becoming the CEO of the Franchise Company. This year also saw a round of successful fundraising and a high-profile partnership with Drake.
2020 marked a pivotal year for expansion. Andrew Feghali opened the first franchise location, while the Franchise Company established its presence by opening its first company-owned unit.
Rapid growth continued into 2021. Additional capital was infused to build more company units and aggressively accelerate franchising efforts across new markets.
By 2025, Dave's Hot Chicken achieved remarkable success, expanding to over 250 units. This impressive growth culminated in the company entering into a sale at a staggering $1 billion valuation.
1996
Building on their early success, Wetzel's Pretzels secured an Angel
1996
Building on their early success, Wetzel's Pretzels secured an Angel Round investment. This crucial capital infusion helped fuel their expansion, with Bill Phelps remaining at the helm as CEO through 2019, guiding the company's steady growth for over two decades.
