image credit : Marley Spoon

Marley Spoon, A notable meal kit delivery service has outed plans to go public on The Australian Stock Exchange in a deal which will value the company which is expected to net over $100 million revenue this year and planning to raise $53 million in the IPO at a high market cap of $153 million.

Marley Spoon which currently boasts of Martha Stewart as a brand partner for the U.S. Market has gone ahead with the IPO plans by allocating shares to be purchased to various brokers to go ahead with the sale of the stock of which many institutional and individual investors have shown interest.

This IPO marks the fast and hugely growing company’s valuation at 1.3 times sales on the public market, This valuation can be also expected to pop on the start of trading in the stock exchange and may continue on a high-flying positive chart as the case has been seen with so many companies of this type going public.

Marley Spoon which was founded 4 years ago currently counts German based incubator Rocket Internet which is run by the 3 Billionaire tech entrepreneur Samwer Brothers and has played a major part in backing so many notable companies including Zalando, Jumia Group, The Iconic and so many other companies which have successfully gone public, get acquired and also raised more money at a much higher valuation.

Marley Spoon will now have to play well in the meal kit delivery service which is a very competitive one and also in the country of Australia where it has major competitors like Hello Fresh and other companies involved in the food/meal delivery space.

 Marley Spoon was co-founded by Fabian Siegel who was Co-CEO at $8 Billion + food delivery hero “Delivery Hero” and Till Neatby, The company has also raised a total of $27.5 million prior to this IPO.

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