Moonpig is a key player in the UK personalised greeting card market, selling personalised cards and gifts, as well as flowers.
The website was launched in 2000 by Nick Jenkins (whose school nickname was used for the company name) and in 2007 it was responsible for 90% of the online greeting card market in the UK, with nearly 6 million cards shipped.
The London and Guernsey-based business has been operating in Australia since 2004 and the USA since 2010. In 2011, Moonpig was sold to Photobox for £120m, which was subsequently acquired by Exponent Private Equity and Electra Partners in 2015.
A TV advertising campaign with the catchy ‘Moonpig.com’ tune launched in the UK in 2006.
Moonpig has broadened its product offer in recent years to provide a range of personalised merchandise such as mugs and smartphone covers. It has also expanded into augmented reality, is focused on improving customer communications and is heavily investing in mobile – which now accounts for an estimated 60% of transactions.
Retailers have reassured investors that operations and trading will be unaffected by the crisis at Silicon Valley Bank’s UK arm.
Moonpig has reduced its full-year sales forecasts after turbulent trading conditions hit its top line.
Moonpig has said it will focus on greeting cards and has left its full year guidance unchanged as it seeks to navigate the current cost of living crisis.
Moonpig has reported falling sales and profits in its first full-year results since it floated on the London Stock Exchange.
Moonpig has made moves to grow its gifting offer with the proposed acquisition of Buyagift.
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