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Moonpig prepared to go public in LondonINTL

Moonpig prepared to go public in London

Moonpig, also known as the company with the best name ever, is shooting for the stars with a London listing.

The online card retailer is gearing up for a London Stock Exchange IPO with a £1.6b ($1.2b) float next month, representing at least a quarter of the company. The line-up of confirmed investors includes BlackRock and Dragoneer, who said they’d be spending £130 on Moonpig shares.

The firm, which amassed a whopping 12.2 million customers by October last year as a result of the surge in demand for its cards during the pandemic, is the leader in the online card market in the UK (greeting cards, not credit cards). Its website features over 20,000 cards, as well as other products such as flowers and chocolates.

Unlike many other companies that struggled immensely with COVID-19, Moonpig actually reported revenue growth of 44% between the financial years of 2019 and 2020. Were people sending “get well soon” or “miss you” parcels to each other throughout 2020, we wonder?

why it matters
While most tech companies opt to list on the tech-heavy US-based Nasdaq, it seems like the LSE is getting some love this year too. We are sure that other tech giants will follow – queue food delivery platform Deliveroo, which reported its intentions to list in April, and remittance FinTech company Transferwise, which is rumored to as well.