Friday, February 23

Deliveroo IPO listing, Valuation could reach around $10 to $12 billion

London, 03/25/2021: UK-based food delivery service Deliveroo said it plans to go public on April 4 via the London Stock Exchange at a price range of $5.35 to $6.32 per Share. The IPO listing could value the company around $10.5 billion to $12.1 billion.

The Offer will comprise of new Shares to be issued by Deliveroo expecting to raise approximately $1.4 billion and existing Shares to be sold by certain existing shareholders.

Will Shu, Founder, and CEO of Deliveroo said, “We are proud to be listing in London, the city where Deliveroo started. 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. We have seen a strong start to 2021 and we are only at the start of an exciting journey in a large, fast-growing online food delivery market, with a huge opportunity ahead.”

The company was co-founded in February 2013 by Greg Orlowski and Will Shu. In 7 years the company has grown to 115,000 food merchants and over 100,000 delivery workers.

Deliveroo currently operates across 14 markets including Australia, Belgium, France, Germany, Hong Kong, Ireland, Italy, the Netherlands, Singapore, Spain and the United Arab Emirates, Taiwan and Kuwait.

The company reported net losses of $311 million in the year ended 2020 but the revenue grew 54% from $1.1 billion in 2019 to nearly $1.7 billion in 2020. Which increases the gross profit of the company from $260 million in 2019 to $490 million in 2020.