Starbucks was founded in 1971 in Seattle, Washington selling high-quality coffee beans. It opened its first store in 1984 and today has almost 17,000 stores in 49 countries. Starbucks has several subsidiaries including Tazo Tea Company, Seattle's Best Coffee, Torrefazione Italia, Ethos Water, and Hear Music that were all later acquired. While Starbucks dominates the specialty coffee market, its main competitor is McDonald's which upgraded its coffee offerings. Starbucks focuses on its product, placement, price, and promotion, commonly known as the 4 P's, to attract and retain customers.