ALTHOUGH registered as a UK company, Moonpig the online supplier of greeting cards and much more distributes product from its Guernsey base and business is booming.
Founded in 2000, it was the brainchild of Nick Jenkins who sold it in 2011 for £100 million (€110 million) and finally ended up in the hands of Exponent Private Equity which according to a Sky News report is considering floating the company on the London Stock Market in the not-too-distant future.
The lockdown and various tier restrictions has been a financial blessing for the company as it makes much more sense to choose from one of its 16,000 cards online rather than make one visit to a card shop and a second to a post office and there is the added bonus of the availability of dispatch of flowers, chocolates and other relatively inexpensive gifts.
With a turnover of around £100 million (€110 million) and profits last year of £18.4 million (€20.24 million) the company can only expect sales to continue to increase over the coming months which makes it the right time to consider going public.
According to Sky News, likely value of such a public offering could see share sales of around £1 billion (€1.1 billion) but that would indicate a ratio of 10 to 1 on turnover and may be somewhat optimistic.
Nearest competitor is Funky Pigeon which offers a similar range of product and is now owned by WH Smith.
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