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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
>>
SOUND] T
ey'd usually be ringing on your doorbell. Now HelloFresh is sounding its debut on the trading floor. The meal kit delivery company making a successful arrival in the Frankfurt Stock Exchange on Thursday. Gaining 4% on its first day of trading as it sold 31 million new shares.
00:00:21
That, as Reuters Douglas Busvine tells us, values the German company at around 1.7 billion euros, more than double its US rival.>> HelloFresh launched in Germany five years ago, but the market it's competing in is the United States where millennials are embracing a home dining revolution. There HelloFresh is gaining market share against a competitor called Blue Apron.
00:00:45
>> The idea is to make home cooking easier by delivering prepackaged ingredients. HelloFresh has ceased hearty chunks of market share from Blue Apron, which has suffered a 50% drop since its own IPO in June. In a bid to win over the growing meal kit customer base, marketing has been a major ingredient, and cost for both companies.
00:01:07
HelloFresh devoted more than a quarter of expenses to it.