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Pinkberry gets $27.5M swirl of financing

LOS ANGELES Pinkberry Inc., operator or franchisor of 33 namesake frozen-yogurt shops, said it has received $27.5 million in expansion financing from Maveron LLC, a venture capital firmed co-founded by Starbucks Corp. chairman Howard Schultz.

Pinkberry founders Shelly Hwang and Young Lee retain "significant equity" in the Los Angeles-based chain and plan to devote some equity to an employee stock-option program, the company said.

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