Summary List Placement
Amazon-backed British food delivery firm Deliveroo could be headed for a blockbuster IPO in the spring at a valuation of £10 billion ($13.6 billion), according to two industry sources.
One of the people said the float could take place in April.
Since Deliveroo is likely to be embarking on discussions with potential investors, which will influence its IPO price, both the target valuation and float date may change.
Listed rival Just Eat has a market cap approaching €15 billion ($18.2 billion), Delivery Hero’s market cap is around €26 billion ($32 billion), while US peer DoorDash closed Wednesday with a market cap of $62.9 billion.
Deliveroo declined to comment on its IPO.
Sky News separately reported on Wednesday that Deliveroo was expected to be valued above £5 billion ($6.8 billion), and that it added Bank of America Merrill Lynch, Citi, Jefferies and Numis to its existing roster of banks, led by JP Morgan and Goldman Sachs.
Deliveroo is headquartered in the UK and competes with the likes of Uber Eats in Europe and parts of Asia. It offers food, alcohol, and grocery deliveries on demand via an app, relying on a network of gig-economy cyclists and motorcyclists to ferry items to customers.
It was founded …read more
Source:: Businessinsider – Tech