It is hard to overstate the excitement that the recent IPO of The Hut Group caused in the little world that lives off company flotations in London. City champagne bars would have been packed had everyone not been at home waiting for the next Zoom call.

The reason for the buzz might seem obvious. After all, this was largest IPO in London since 2015 and only the ninth so far this year. But the deeper significance related to the nature of the company.