Niklas Östberg looks relieved. Shortly after offering his startup’s stock at the Frankfurt Stock Exchange, the Delivery Hero CEO gave his first TV interview.
“I’m glad we had a good start,” he says, smiling to the camera. “It’s a fantastic day for the European tech scene.”
So far the numbers are looking good: Shortly after the bell range, trading began and the CEO saw Delivery Hero stock prices increase three per cent.
On Wednesday, the Berlin delivery platform placed 19 million new shares up for sale and 15 million existing shares – each for 25.50 euros (29.09 USD). As of noon in Germany the price was at 26.80 euros.
With this initial public offering (IPO), approximately 996 million euros came flowing in. Delivery Hero will take 465 million euros – 300 million of which will go to replaying loans.
One of the biggest profiters from the IPO is company builder Rocket Internet with 264 million euros. The startup now has an estimated worth of 4.4 billion euros.
The IPO, however, did not impress Rocket Internet shareholders: the price of Rocket Internet’s shares fell slightly Friday morning. It seems there is doubt that the Berlin company builder has more to offer.
According to media reports, Rocket Internet’s meal-kit delivery startup HelloFresh is contemplating its own IPO. But HelloFresh’s main competitor, the US-startup Blue Apron, which also had its first IPO recently, was given a lower valuation than expected: less than two million USD, when 2.3 million were expected. What this means for Rocket Internet remains to be seen.
For now, Delivery Hero’s Östberg is taking a cautious approach: The next ten to 15 years are decisive, he tells the camera.
That’s a pretty long time.