Gopuff IPO: Updates From the On-Demand Delivery Giant
The Gopuff IPO is eagerly awaited by investors. The on-demand delivery startup is one of the most anticipated IPOs of 2022. So when can investors expect Gopuff stock?
Gopuff IPO: About the Business
Founded in 2013 by college students Rafael Ilishayev and Yakir Gola, Gopuff has grown into one of the largest on-demand delivery startups. Headquartered in Philadelphia, Gopuff delivers various items, including…
- Food
- Drinks
- Over-the-counter medication
- Cleaning and home products
- Baby and pet products
- Alcohol, in some markets
- Freshly prepared food, in some markets
The company is a platform for “instant” delivery of consumers’ everyday needs. The company promises to deliver in under 40 minutes with a $1.95 flat delivery charge.
Gopuff has grown its footprint across the U.S. and parts of Europe. Currently, it operates in 1,000 cities across the U.S. On December 23, Gopuff announced it has expanded into nearly 600 fulfillment locations with a team of 10,000 people that deliver 4,000 products.
In addition, Gopuff doesn’t shop for products requested by customers in local stores. Instead, it operates over 600 warehouses that serve as fulfillment centers. By cutting out the middleman and owning the inventory and supply chain, Gopuff offers consumers lower prices and increases profits.
These factors make Gopuff stock look promising. Moreover, the company is making more efforts to increase profitability and scale its business. Earlier this month, it launched its first private-label brand.
Gopuff Launches Private Label Brand Ahead of IPO
In January, Gopuff launched its first curated product line. The company’s “Basically,” product line offers high-quality snacks, water and home essentials at a great value, according to Gopuff. The company is rolling out cleaning products, batteries, paper products, cutlery and food storage.
Moreover, the company is launching its “Basically, Amazing” line of snacks soon. This will include a variety of pretzels, nuts, trail mix, popcorn and snack mix. Over time, the company will introduce new products. In addition, it plans to introduce more private-label brands later this year.
Daniel Folkman, Senior Vice President of Business at Gopuff, said…
After over eight years of delivering instant needs, we truly understand what our loyal customers look for in everyday essentials—insights that have enabled us to create product lines designed specifically for them. Gopuff has always been about fulfilling the evolving needs of the modern consumer, instantly and seamlessly. Basically, it is a byproduct of that, and another example of how we are uniquely positioned to show up for our customers.
The company behind Gopuff stock has been on an expansion tear to scale its business. Moreover, Gopuff’s new line should drive strong unit sales and attract new consumers by improving the retailer’s price-to-value perception. However, the company is still in the infancy stages of its private label. So, how do the company’s finances compare? Let’s take a look…
Gopuff IPO Could Land $40 Billion Valuation
Because Gopuff is still private, its finances aren’t available to the public. However, revenue more than tripled in 2020 to $340 million, according to sources familiar with the matter. Moreover, the company reportedly told employees it expects to nearly triple revenue again to $1 billion in 2021.
Gopuff has raised more than $3.5 billion in funding to date. This includes investments from Accel, Blackstone, Fidelity and singer Selena Gomez.
A fundraising round for Gopuff in October 2020 placed its value at just $4 billion. However, Gopuff is continuing to face rapid growth even after. The company’s latest funding took place in July 2021. After raising $1 billion in a Series H funding round, the company landed a $15 billion valuation.
Moreover, the company recently announced plans to raise an additional $1.5 billion in December. The funding round led by Guggenheim Partners could land the company a staggering $40 billion valuation. So, it begs the question… how much can the Gopuff IPO raise?
Gopuff IPO Filing Details
Investors can expect Gopuff stock soon. Despite less than perfect market conditions for stock market launches, Gopuff is pushing ahead with its IPO preparations. The company is one of the top investment unicorns in the United States. Moreover, the Gopuff IPO could be among the largest offerings of 2022.
The Gopuff IPO is coming later in 2022, Bloomberg and Reuters reported, citing unnamed sources with insider information. The company is working with Goldman Sachs, Morgan Stanley and JP Morgan on the offering.
Sources warned that market conditions could influence the timing, valuation and size of the Gopuff IPO. All sources requested anonymity due to the nature of the discussions. And at this time, it’s unknown when investors should prepare for Gopuff stock.
The company competes with other delivery platforms like Instacart and DoorDash. Moreover, Instacart is likely going public this year. You can learn more about the Instacart IPO here.
As always, make sure to research before you invest. IPOs can be volatile for the first few months and share prices are constantly changing. Furthermore, if IPO investing interests you, check out our top recent IPOs and our IPO calendar. We update the calendar daily to give you the latest news on upcoming and filed IPOs.