Monday, January 18, 2021

"UK's Deliveroo raises $180 million from investors, valued at $7 billion"

We don't have a lot of posts* on Deliveroo but that headline valuation is rather eye catching.

From Reuters, January 16: 

LONDON (Reuters) - British food-delivery company Deliveroo said on Sunday it had raised a further $180 million from existing investors, including minority shareholder Amazon, in a move that values the business at more than $7 billion.

Deliveroo is set to hold an initial public offering in the coming months, in what would be the biggest new share issue in London for three years.

“This investment will help us to continue to innovate, developing new tech tools to support restaurants, to provide riders with more work and to extend choice for customers,” Deliveroo founder and chief executive Will Shu said.

Britain’s competition regulator approved Amazon’s May 2019 purchase of a 16% stake in Deliveroo in August, overruling objections from local competitors Just Eat Takeaway and Domino’s Pizza....MORE

*There was the time the FT's Izabella Kaminska went investigating: 
December 12, 2016
Ha! We Were About To Publish A "Where In the World Is Izabella Kaminska" Post 
December 13, 2016
More On Izabella Kaminska's Adventures In Food Delivery and Deliveroo Responds 
Deliveroo pic of me
...Wanting to keep my capital spending to a limit, I turned instead to a different gig-economy model. On August 10, I applied for a job at food dispatching firm Deliveroo, where the company spiel encouraged working people who were looking for flexible supplementary income to apply. It was the flexibility that attracted me, in other words. 
I applied using my real legal identity....MORE
 January 9, 2017
What Izabella Hath Wrought: "Deliveroo riders are lawyering up"