Home Business NewsBusiness Deliveroo on course for bumper London IPO

Deliveroo on course for bumper London IPO

by LLB Editor
22nd Mar 21 10:48 am

Deliveroo is set to list its shares at between £3.90 and £4.60 per share, putting a value of between £7.6 billion and £8.8 billion on the company.

The company reported that gross transaction value — the total value of orders it processes on its platform — has grown 121 per cent year on year in January and February 2021. No other financial information was released.

Deliveroo, founded in 2013 by William Shu, a former Wall Street analyst, and his friend Greg Orlowski, works with more than 115,000 restaurants in 12 countries and has 100,000 riders. Amazon invested $500 million in the company last year, helping to save it from going bust when the pandemic struck.

“We are proud to be listing in London, the city where Deliveroo started,” said Will Shu, the founder and chief executive of Deliveroo, who owns a 6.2% stake in the company.

“Becoming a public company will enable us to continue to invest in innovation, developing new tech tools to support restaurants and grocers, providing riders with more work and extending choice for consumers, bringing them the food they love from more restaurants than ever before. This will help us in our mission to become the definitive food company.”

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