UPDATE: Due to city licensing red tape, Phoebe’s opening was delayed. In lieu of the grand opening, the shop gave away 3,550 cupcakes for free on Saturday, April 18. Phoebe Walters says the paperwork is on its way and the cupcakery will open for real on Tuesday, April 28.

There’s not much that could get this here reluctant capitalist to read the Wall Street Journal—much less a subsection of it called the “Venture Capitalist Dispatch.” (Who knew such a thing even existed?) But plant the word cupcake pretty much anywhere, and I throw my serious, considered opposition to the WSJ to the wind. And so it went with the news of a new cupcake shop opening in Lakeview called Phoebe’s Cupcakes, which piqued the WSJ’s interest not for this new bakery’s flavor combinations but for the serious green it received from a Chicago-based venture-capitalist firm called Ascent Equity Capital. Blah blah blah, something about the economy, more blah.

What flavors of cupcakes will there be? Will there be minis? Frosting shots? As if I didn’t have enough evidence already, the dearth of this essential info in the WSJ article proves once and for all that Murdoch’s paper is a dark, evil place where sunshine, daydreams and fun go to die. A phone call to Phoebe Walters, the pastry chef–owner who’s opening the place along with pastry chef Kate McNamara, gave me the details I so desperately needed:

Eight flavors will be on offer each week from a rotating cast of 200 flavors (all of which are available for catering). In addition to mainstays chocolate, vanilla and red velvet, five flavors will rotate. For opening week, sparkling pear (Bartlett pear cake with white-chocolate Italian buttercream), salted caramel, tiramisu, grasshopper (chocolate-mint) and one as-yet-undetermined flavor will fill the bill. In addition to cupcakes, there’ll be fair-trade coffee from the Coffee & Tea Exchange down the block, muffins and cinnamon rolls (and extra shots of frosting, caramel or fudge to spread on top of those cinnamon rolls) in the mornings, and doggie cupcakes and doughnuts—because, really, have you ever walked on Broadway without tripping over a dog leash?

Phoebe’s Cupcakes’s grand opening is this Saturday, April 18, at noon. The first 1,500 customers will receive a free cupcake with the purchase of a cup of coffee, and two lucky customers will receive a “Gold Cupcake” entitling them to one free cupcake a week for life. Follow them at twitter.com/phoebescupcakes. 3327 N Broadway, phoebescupcakes.com, Tue–Thu 8am–9pm, Fri–Sat 8am–11pm, Sun 8am–8pm, average cupcake $2.50.