Monday, May 27

Tag: Deliveroo

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

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...
Amazon Facing Heat in UK Over Acquisition of Deliveroo
News

Amazon Facing Heat in UK Over Acquisition of Deliveroo

British authorities are asking Amazon to address concerns that its plan to buy a stake in food delivery platform Deliveroo could damage competition between businesses that do takeaways and those that deliver groceries. The Competition and Markets Authority gave the online shopping shopping behemoth five days to come up with legally binding proposals to address the competition concerns identified Wednesday. Amazon is interested in investing in Deliveroo to give it a larger stake in the fast-growing restaurant delivery business. If the deal were to proceed in its current form, there's a real risk that it could leave customers, restaurants and grocers facing higher prices and lower quality services as these markets develop," said Andrea Gomes da Silva, the authority's executive directo...
Deliveroo Stops Operation in Germany, Planning to Exit
News

Deliveroo Stops Operation in Germany, Planning to Exit

Online food delivery service Deliveroo says it's pulling out of Germany to concentrate on other markets, but is holding out the possibility of returning at a later date. London-based Deliveroo said it will shut down its service in Europe's biggest economy on Aug 16. In an email sent to customers, the company said its goal is "to create the world's best food delivery service" and "offering customers, drivers, and restaurants an outstanding service." It added that "where we cannot provide this on the level that we expect and that you deserve, we do not operate."  Deliveroo didn't immediately respond to a request seeking further details. Like other food delivery services, the company has been criticized in Germany and elsewhere for its treatment of its drivers and cyclists. ...
Britain food delivery startup raises $575 million from Amazon and others
FUNDING

Britain food delivery startup raises $575 million from Amazon and others

The British food delivery startup Deliveroo raises $575 million funding from e-commerce giant Amazon and others, a press release said on Friday. Other participants include existing Deliveroo investors T Rowe Price, Fidelity Management and Research Company, and Greenoaks. Amazon is the single largest investor in a $575-million (514-million-euro) financing round, Deliveroo said in a statement. "This new investment will help Deliveroo to grow and to offer customers even more choice, tailored to their personal tastes, offer restaurants greater opportunities to grow and expand their businesses, and to create more flexible, well-paid work for riders," said Deliveroo founder and CEO Will Shu. "Amazon has been an inspiration to me personally and to the company, and we look forw...
Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo
ACQUISITION

Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo

The international ride-hailing service provider Uber is in early talks to acquire food delivery company Deliveroo. The amount of the deal is unknown as of now, however, it has been stated that the offer would need to be considerably above Deliveroo's latest valuation. Deliveroo is a London-based food delivery company founded in 2013 by Americans Will Shu and Greg Orlowski. Last year, the company was valued at more than $2 billion after it raised $98 million from private investors. The deal is not sure to close and may fall apart because Deliveroo and its investors have been reluctant to relinquish independence. Uber has been growing in all segments and with its recent entry in the food delivery space with UberEats, this acquisition may help the company a lot. In Deliveroo, the orders...