At the time of its initial public offering (IPO) on the stock market in June 1992, Starbucks had grown to 140 outlets, with a revenue of US$73.5 million, up from US$1.3 million in 1987. The company's market value was US$271 million by this time. The 12% portion of the company that was sold raised around US$25 million for the company, which would facilitate a doubling of the number of stores over the next two years. By September 1992, Starbucks' share price had risen by 70% to over 100 times the earnings per share of the previous year.