Rhode Island Chronicle

Deliveroo Announces Plans To Launch Initial Public Offering

 Breaking News
  • No posts were found

Deliveroo Announces Plans To Launch Initial Public Offering

February 23
05:44 2021
Deliveroo Announces Plans To Launch Initial Public Offering

London-based food-delivery service, Deliveroo, to issue an IPO for its shares before the end of Q1 2021

According to reports from unnamed sources, London-based food-delivery service Deliveroo could begin the process of floating shares for public purchase as early as March 8. A Sky News report has stated that the company’s market capitalization could hit $10.4 billion following the initial public offering. In a related development, six investment banks, led by Goldman Sachs and JP Morgan, have been hired by Deliveroo for the IPO.

Founded in London in 2013 by Will Shu, who remains the chief executive of the company, Deliveroo has grown in leaps and bounds to become one of the biggest players in the food delivery industry.

By offering fast and reliable delivery which the customer can track on their phone, Deliveroo has seen revenue growth of over 650% year on year. Restaurants who partner with us see their revenue increase by up to 30 percent, creating thousands of jobs in the restaurant sector,” the company states on its website.

In August 2020, UK regulators allowed Amazon to acquire a 16 percent stake in Deliveroo after initially expressing doubt about the deal.

When looking at any merger, the CMA’s role is to assess whether consumers will lose out from a substantial lessening of competition. We have not found this to be the case given the scale of Amazon’s current investment, but if it were to increase its shareholding in Deliveroo, that could trigger a further investigation by the CMA,” said the lead investigator at the time.

Delivrooannounced a fundraising round in January 2021, subsequently valuing the company at $7 billion in advance of a possible initial public offering.

The fundraising round of $180 million was led by Durable Capital Partners and Fidelity Management and Research. “This investment comes ahead of a potential Initial Public Offering and reflects strong demand from existing shareholders to invest in the company, given the significant growth potential in the online food delivery sector in which consumer adoption is accelerating,” the company stated in a January 17 news release.

For more IPO news from different parts of the world, please visit – https://whiteoakcapital.asia.

Media Contact
Company Name: White Oak Capital (Asia)
Contact Person: Mr Craig Stevens
Email: Send Email
Phone: +852 3001 6191
Address:36 FL Shun Tak Centre West Tower 168-200 Connaught Road, Central
City: Sheung Wan
Country: HongKong
Website: https://whiteoakcapital.asia/