The Berlin-based cooking kit delivery company HelloFresh has revealed some update regarding its future plan. Well, it is about to raise an IPO of $353 million at Frankfurt Stock Exchange. This move is going to increase the value of the HelloFresh even more. It is being revealed that, in the public market, it’s going to reach the value of 1.5 billion euros with this IPO.

Blue Apron

In June, on the New York Stock Exchange, Blue Apron made a debut. It is already trading at just at 50% of its IPO price. HelloFresh is the competitor of the Blue Apron. So, following the lackluster performance of the Blue Apron in the public market, the IPO of the HelloFresh looks like a surprise.

Why Blue Apron Struggled?

The main reason behind the struggle of Blue Apron is said to be the Amazon’s purchase of Whole Foods. This is what had made it a big struggle for it to retain customers and had brought a lot of concerns in the minds of the investors as well.

What HelloFresh Believes?

HelloFresh believes that the investors in the European market think differently about its business. For the first six months it had 435 million euros in the revenue, the company said. The losses calculated were said to be 57 million euros. It’s willing to make it a success and a big deal in the future. So, that’s what had made HelloFresh to raise IPO.