Food delivery startup Deliveroo is reportedly planning to lay out plans for an initial public offering in London on March 8, according to Bloomberg. The date is subject to change, with the IPO projected to be among the biggest share sales in Europe this year.
- Deliveroo got a boost this year when customers ordered takeout meals and groceries during the pandemic despite struggling at the start of the lockdowns.
- Deliveroo’s listing comes amid a surge in IPO activity in London, the busiest venue this year.
- The food delivery startup announced in January it had raised more than $180 million in its latest funding round, valuing the company at more than $7 billion.
- Deliveroo said it was profitable “at the operating level” for more than six months in 2020 and also posted operating revenue of 771.8 million pounds in 2019, up 62% year over year.
Deliveroo has 140,000 restaurant partners, 110,000 delivery riders in the U.K and overseas, while its app has 9.6 million downloads.
