Gopuff Stock: Is the IPO Imminent or Up in Smoke?
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Table of Contents
Recent Gopuff News
05/16/2024: Gopuff Cuts 6% of Workforce
05/09/2024: Gopuff Burned $400 Million Last Year
11/20/2023: Axios: GoPuff a likely merger target as delivery sector falters
10/30/2022: Of Course Instant Groceries Don’t Work
Older news…
What is Gopuff?
Gopuff is a food, alcohol, and home essentials delivery service founded and headquartered in Philadelphia, PA.
The company started as a hookah delivery service (hence, the name) around Drexel University but quickly expanded to other conveniences such as beer, toiletries, and diapers.
It now delivers to more than 1,000 cities from its facilities, which stock about 4,000 products each.
Here’s a recent promotional video:
Is Gopuff Publicly Traded?
No. Gopuff is not publicly traded.
When is the Gopuff IPO Date?
The Gopuff IPO date is currently unknown.
Gopuff has not filed for an IPO with the Securities and Exchange Commission (SEC).
The company operates in a low-margin industry with plenty of competition and will need favorable IPO market conditions for a successful IPO.
In March 2022, Bloomberg reported:
The company has no intention of raising capital through a public offering in the near term, due to market conditions, and hasn’t filed paperwork to initiate the process.
The author expects the IPO will not commence until market conditions improve and the company can prove it is viable by earning an annual profit.
We won’t get a better sense of when the Gopuff IPO will be until we learn of the hiring of an underwriter, an S-1 filing (public or confidential), or an IPO date range that reaches the press.
Bookmark this page for the latest developments.
Who Owns Gopuff?
Gopuff is a venture-backed private company. Its investors include the founders, employees, and several venture capital firms.
In July 2022, Gopuff closed dozens of warehouses and laid off 1,500 workers.
Prominent venture capital investors include Blackstone, Guggenheim Investments, Hedosophia, Adage Capital, Fidelity, Softbank, Atreides Management, Eldridge, Accel, and Anthos Capital.
Former Disney CEO Bob Iger is also an investor and advisor. Iger’s May 2022 investment terms remain undisclosed.
Gopuff Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series D2 | 05/17/22 | 0 | $1.50B | $0.00 |
| Series H | 07/29/21 | $15.00B | $1000.00M | $388.49 |
| Series G | 03/22/21 | $8.90B | $1.15B | $0.00 |
| Series F | 09/16/20 | $3.90B | $380.00M | $134.55 |
| Series E1 | 07/31/19 | $2.15B | $750.00M | $83.13 |
| Series D1 | 10/31/18 | $1.01B | $108.50M | $65.27 |
| Series C | 11/19/17 | $190.00M | $25.00M | $16.10 |
| Series B | 12/11/16 | $62.96M | $12.96M | $6.18 |
| Series A | 05/31/16 | $30.35M | $8.25M | $4.13 |
| Source: Caplight |
Gopuff Valuation
Gopuff’s last confirmed funding round valuation during its Series H was about $15 billion amid the 2021 IPO mania.
Its valuation is likely much lower today. The Information reported the company lost $400 million in 2023.
Caplight estimates its valuation has halved as of May 2024.
What is the Gopuff Stock Symbol?
Gopuff is still a private company, so there is no Gopuff stock symbol yet.
Here are a few Gopuff ticker suggestions that appear to be available in the U.S.:
- PUFF
- GOPF
- GPFF
What is the Gopuff Stock Price?
There is no public Gopuff stock price yet. The company is private.
Private stock price information is becoming more available and reliable based on pre-IPO marketplace data and other sources.
Caplight estimates the Gopuff stock price at $180 as of May 2024, based on aggregated pre-IPO marketplace data.
How to Invest in Gopuff Stock
Since Gopuff is not a public company, it is challenging to become an equity owner today.
However, you can take action to improve your chances of early equity ownership or acquire shares in the IPO.
1. Buy Gopuff on Pre-IPO investing platforms
The author has seen limited evidence of Gopuff being available on pre-IPO platforms.
Investors can monitor pre-IPO investing platforms such as Hiive, EquityZen, and Forge Global for availability.
The most accessible venture capital fund for non-accredited investors is the Fundrise Innovation Fund. However, Gopuff is not currently a holding.
Check out our list of top pre-IPO investing platforms for current share availability across platforms.
Some pre-IPO investing platforms empower users to indicate interest in companies they wish to invest in.
As companies mature, gain more shareholders, and delay their IPO due to macro conditions, more equity holders may seek liquidation before the IPO.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Buy stock during Gopuff IPO through a participating broker
Savvy IPO investors may find opportunities to invest during the IPO. That means acquiring shares at the IPO price the night before the company begins trading.
Once reserved for Wall Street’s wealthiest customers, IPO access has become more attainable to retail investors in the past five years.
Online brokers such as the following give customers free access to IPOs, even with low account balances.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy Gopuff stock after the Gopuff IPO
Though waiting for the IPO requires patience, there are advantages to waiting for the stock to become publicly traded before owning.
First of all, the IPO allows investors to review financials. Pre-IPO investing has limited financials available.
Second, IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.
Many IPOs start with an immediate price increase (“the pop”). Then the stock falls once quarterly earnings reports become available.
In 2021, both Rivian and Robinhood became high-flying IPO stocks. But six months after the IPO, both stocks were more than 80% below their price peak.
Stock price declines after IPOs can be excellent entry points.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
However, the most disruptive companies will be higher in a decade.
4. Participate in the Gopuff Directed Share Program (delivery personnel and customers)
Can Gopuff drivers invest in the Gopuff IPO?
Maybe.
Another possibility (far from a certainty) is a directed share program.
When companies file their S-1 SEC filing (to begin the IPO process), they sometimes include a directed share program for executives, affiliates, and others who helped it grow.
Gopuff can attribute much of its success to its delivery drivers. As such, the company may offer IPO shares to drivers and possibly its customers.
This has happened before.
Uber offered shares to drivers that completed a certain number of trips.
GoPro offered shares to its email list.
Airbnb offered IPO shares to hosts.
Considering Gopuff’s reliance on drivers and customers, it would be a nice and reasonable perk to offer them IPO access.
If you’re a driver or customer, monitor your Gopuff emails as the Gopuff IPO approaches. You may get a shot at IPO shares.
Bookmark this page for more information as the IPO approaches.
Where can I find the Gopuff IPO S-1 Filing?
Gopuff has not yet submitted an S-1 filing to the SEC. When the company does, we’ll post it here.
In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.
Gopuff News Archive
10/25/2022: The Fantasy of Instant Delivery Is Imploding
08/30/2022: Gopuff Tries to Raise Money Again
07/12/2022: Gopuff Cuts 10% of Staff, Closes Warehouses to Preserve Cash
05/18/2022: Former Disney CEO Bob Iger invests in $15 billion delivery start up Gopuff
03/31/2022: Gopuff Is Close to Raising $1 Billion With No IPO in Sight
12/16/2021: Gopuff is raising $1.5B in a convertible note at up to a $40B valuation
07/30/2021: Gopuff confirms new $1B cash injection at a $15B valuation
03/23/2021: ‘Instant needs’ delivery startup Gopuff raises $1.15B at an $8.9B valuation
Conclusion
Investors get excited when they identify companies riding extraordinary macroeconomic trends (goods delivery).
However, buying the stock early on can often prove difficult for retail investors.
Though pre-IPO investing platforms have opened more opportunities, private equity investing is still primarily reserved for the ultra-wealthy, requiring millions to invest in seed and early funding rounds for disruptive companies.
So if you pursue IPO shares and early equity, maintain reasonable expectations. However, if you identify several favorite IPO companies, you may eventually be able to invest in some of your target companies.
If Gopuff stock is on your radar, good luck. Invest in pre-IPO and IPO companies with caution.
The author is long RIVN, HOOD.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. He started Access IPOs in 2016 to provide a resource for ordinary investors pursuing investment access to IPOs and pre-IPO startups. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
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