Marley Spoon is slipping on ASX debut

Source: Marley Spoon

Shares in Marley Spoon slipped below the issue price when the subscription-based meal kit provider listed on the ASX today.

The company opened at $1.25 and a short time ago was at $1.265.

Marley Spoon raised $70 million at $1.42 per CDI (CHESS Depositary Interests).

Most of the funds will be used to support the continued growth of Marley Spoon’s existing and potential customer base.

Marley Spoon was launched in Germany in 2014 by Fabian Siegel and Till Neatby. It provides subscription-based meal kits to 110,000 active customers in Australia, the US, Austria, Belgium, Germany and the Netherlands.

As of March this year, Australia represented 37% of Marley Spoon’s revenue and over one third of its global workforce.

Since 2014 Marley Spoon has developed more than 9,000 recipes and served more than 14.5 million individual meals to customers in Australia, Europe, and the United States.

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