Berlin-based meal kit company, HelloFresh, has announced plans to raise up to €300 million ($453.6 million) in an IPO on the Frankfurt Stock Exchange.
The move comes two years after the company’s first attempt at listing on an exchange ended unsuccessfully.
After recently reporting a 53 per cent jump in revenue to over €230 million in Q2 2017, the company seems ready to take another stab at it. In the intervening years, however, competition has increased in the meal kit space.
HelloFresh, which operates in 10 markets, including Australia, faces stiff competition in the US, where competitor Blue Apron listed on the New York Stock Exchange in June, and Amazon has recently launched its own meal kit offering.
And while HelloFresh is the clear market leader in Australia, new players, including Marley Spoon and Aussie Farmers Direct, have ramped up their marketing efforts in recent months.
HelloFresh is backed by German technology company, Rocket Internet, as well as Insight Venture Partners and Baillie Gifford.
This story was first published on Internet Retailing.
