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PT Mitra Buana Ventura: the business behind your boba
Behind Xiboba’s sweet drinks is an Indonesian investment company selling a more demanding proposition: a food business other people can run. MBV’s history shows how much depends on the menu, the delivery bill and the partner down the street.
UMe Tea
UMe Tea is a California-based bubble tea chain founded in 2019 by former Silicon Valley engineer Jiachun 'Summer' Li. Built around fruit-forward, less-sugary recipes tuned to American palates, the brand pairs handcrafted drinks and snacks with viral marketing - most notably a surprise bunny plushie hidden in the bottom of its cups. Bootstrapped and profitable for its first four years, UMe grew to roughly 30 Bay Area stores before raising a $10M Series A led by Conductive Ventures in 2025 to fund team-building and regional expansion.