eBev is going to use DW8's acquisition of Kaddy for IPO pricing.

Street Talk

eBev kicks off pre-IPO raise

Sydney-based beverage order management start-up eBev is firmly in the list of IPO candidates for 2022, kicking off a pre-IPO raise ahead of a tilt at the boards.

The company, which has Venture Advisory on board, is the country’s largest independent online beverage ordering platform, with more than 700 suppliers, 12,000 brands and 65,000 products.

It has just started pitching investors, but is attracting early interest off the back of a fresh $10 million debt facility its secured, which it believes will support more than $100 million of trade volumes within the next 12 months.

Investors have been given a helping hand when it comes to how to value the business, thanks to Digital Wine Ventures acquiring Kaddy for $6.75 million in cash and 484.9 million - equating to a value of about $34.5 million.

The eBev platform is used by the likes of fellow 2022 IPO hopeful Australian Venue Co, Rockpool Dining Group, Three Blue Ducks and Signature Hospitality.

The company is only targeting a modest $2 million to $3 million via the pre-IPO.

It is selling investors on its scalable technology, the network effects of its marketplace and potential for profitability at scale.

eBev general manager Cassandra MacDonald with Venture Advisory’s Adrian Bunter.