Kurly plans to file an IPO in Korea early next year. Here are the top-line bullets you need to know.
Kurly, a food delivery platform, raised $210M in private equity funding from Anchor Equity Partners.
How’s the company performing?
- South Korea-based Kurly provides next-day grocery delivery services.
- The company plans to file an IPO at a $5.8B valuation in Korea next year.
- Kurly currently has 10M users — around 2.4M are monthly active users.
- The company has achieved 100% sales growth since 2014, and it generated $845M in sales in 2020.
Why does the market matter?
- The global online food delivery market is expected to reach a value of $63.6B by 2025, growing at a CAGR of 15.4%, according to Grand View Research.
- Changing consumer preferences are contributing to growth in this market. For example, the demand for fresh food options and fast delivery has increased, particularly among millennials.
- Online delivery volume has skyrocketed in the face of pandemic-related lockdowns, store closures, and social distancing protocols.