Gousto chief Bldt under fire after tucking into discounted share deal
"The option to sell down was given to all shareholders, allowing them to realise part of their investment and benefit from the support they have provided Gousto to date.Advertisement
Sky News revealed at the weekend that Gousto, which is backed by Joe Wicks, the celebrity fitness instructor, had slashed its valuation from $1.7bn just over a year ago to less than $300m last month.Gousto has also secured another £20m in debt financing as part of its efforts to shore up its balance sheet.
Gousto sells subscriptions to recipe boxes and markets itself as offering healthy meals at value-for-money prices, with Mr Boldt describing the company's ambition to A $150m fundraising in January 2022, led by the giant SoftBank Vision Fund 2, cemented the company's 'unicorn' status - referring to start-ups worth $1bn or more - and paved the way for some investors to reduce their holdings in a separate secondary share sale.It invested at a significant premium to the valuation that saw Gousto become a unicorn in November 2020, meaning it is now sitting on a huge paper loss on its stake.
"And then the company and big shareholders do this significantly discounted fundraise as an 'open' offer but does not offer it to all shareholders.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Food delivery firm Gousto plunged into governance storm after slashing valuationValued at $1.7bn 13 months ago, the meal-kit delivery business backed by Joe Wicks is now worth less than $300m after a fundraising from which some investors were excluded, Sky News learns.
Read more »
This Fortune 500 CEO Is Obsessed With Gender Parity—But She Still Hasn't Achieved It. Here's WhyRevathi Advaithi, CEO of Flex, the $26 billion manufacturer, talks about her strategies to help women excel in business.
Read more »
Digital map launched to encourage people to share King's Coronation plansThe Government hopes members of the public will be able to find events happening near them and get involved
Read more »
Ferne McCann ‘can't wait to share my full truth’ as she addresses voicenote sagaEXCLUSIVE: Ferne McCann has exclusively shared her happy baby news and also opens up on the leaked voice notes explaining she can't wait to 'share her full truth'
Read more »
Civil service chief told Matt Hancock that Boris Johnson was a 'nationally distrusted figure'At the height of the pandemic, Cabinet Secretary Simon Case told Matt Hancock he feared the public would not follow isolation rules if they were set out by the then-prime minister
Read more »