Moonpig plans stock flotation

Moonpig, which specialises in online greeting cards and gifts, has announced its intention to float on the London Stock Exchange. The key to this business is its use of digital printing and a web-to-print business model for short run and personalised cards. 

Moonpig sells a range of greetings cards and gifts.

The Moonpig Group is owned by private equity firm Exponent and consists of the Moonpig brand in the UK and the Greetz brand in the Netherlands, where it holds 60 and 65 percent market shares respectively according to 2019 estimates from OC&C.

According to the information that Moonpig has prepared for the flotation, the market for gifts attached to cards in these areas are worth £24 billion, with only around 12 percent currently purchased online. 

At the core of Moonpig’s success is its own proprietary technology platform. Indeed, the company currently has 141 data scientists, analysts, product developers and software engineers, roughly a third of its staff. The Directors believe that Moonpig Group’s internally developed data science expertise, including proprietary algorithms, artificial intelligence, machine learning tools and real-time data processing, enable it to capture and reflect the purchase intent of its customers. This data is used for personalised reminders, recommendations and targeted promotions, with the plan being for more reminders to increase sales. 

Moonpig has developed an app to drive up further adoption, which was the number one shopping app on both iOS and Android in June 2020. The company says that users who downloaded the app showed a 15 percent increase in order frequency in 2019.

Nickyl Raithatha, Chief Executive Officer of Moonpig Group, said: “Moonpig Group’s mission is to create moments that matter, helping people to connect by sharing meaningful cards and gifts. This is more important now than perhaps ever before. We have built a technology platform that harnesses data-science and AI at every point of our customers’ journey, making it as effortless as possible for them to be as thoughtful as possible.

You can find more details on the company from moonpig.com.


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