The British parent company of the Dutch Greetz.nl, an online platform to make and send greeting cards and surprises, raised GBP 491 million (EUR 557 million) at London Stock Exchange address on Tuesday. The share of Moonpig was more than 20 percent higher in early trade.
The company benefited from the high demand of investors for companies benefiting from lockdown measures to curb the spread of the coronavirus. For example, Moonpig more than doubled his sales in the six months to 1 November. For example, the COVID-19 measures banned birthday parties. In order to convey good luck, a mass choice was made for online gifts and cards.
In the Netherlands, Moonpig has a 65% market share via Greetz. Greetz was founded in 2004 and was said to be the first online care service in the Netherlands. The company, including products such as flowers, wine, balloons and chocolate, would account for over 2 million customers each year. In the UK, Moonpig accounts for 60% of the market.
Moonpig warned in his stock market documents that it would face more competition, as many retail companies are switching to online sales. In addition, it may also lose customers if lockdowns are lifted. Using data-driven technology, Moonpig hopes to stimulate further growth. This growth was driven last year by the mobile app, which currently accounts for a third of the total number of orders.