McDonald's is an American fast food company started in 1940 in San Bernardino, California, by Richard and Maurice McDonald. They renamed their business a hamburger stand and then converted it into a franchise, introducing the Golden Arches emblem in 1953 at a location in Phoenix, Arizona. In 1955, businessman Ray Kroc joined the company as a franchise agent and eventually acquired the chain from the McDonald brothers. McDonald's previously had its headquarters in Oak Brook, Illinois, but relocated to Chicago in June 2018. McDonald's is the world's largest restaurant chain in terms of revenue, serving more than 69 million people daily in more than 100 countries through 37,855 locations as of 2018.