Deliveroo founder plans to cash as £ 8 billion IPO reveals

Will Shu, founder and CEO of Deliveroo, When a food delivery disruptor is floating in London, it can be set to make a lot of money.

Deliveroo, which aims to raise £ 1 billion from the issuance of new shares, has revealed a planned IPO price range to evaluate the company. Between £ 7.6bn and £ 8.8bn..

Shu holds a 6.2% stake in the company and is worth £ 500m in that price range. Sky News reports that Shu is planning To Rake for £ 50m selling Part of this.

Prior to the announcement of the IPO price range this morning, Sunday’s email quoted two Fund manager He said the float was “ridiculous” and he had no plans to buy stock as a result.

“”They want something expensive The price, but the company didn’t make any money last year, “They said.

Last year, Deliveroo reported £ 223.7 Million losses,However Sales increased from £ 2.5bn in 2019 to £ 4.1bn in 2020.

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On Monday, Deliveroo reported: GTV (the total number of transactions processed on the platform) increased 121% year-on-year in January and February 2021, while GTV execution in the fourth quarter of 2020 exceeded £ 5 billion.

“We are proud to be listed on London, the city where Deliveroo started.“Shu said he plans to list on London’s major markets. stock Currency exchange.

“”By becoming a public company, we continue to invest in innovation, develop new technology tools to support restaurants and grocery stores, provide more jobs for riders and give consumers more choice. You can deliver the food they love from more restaurants than ever.

“They fought like cats in their bags and set up a multi-billion dollar company.”

“”This helps our mission to become the definitive food company. By 2021, we’re off to a strong start, just the beginning of an exciting journey in the fast-growing, large-scale online food delivery market, with great opportunities awaiting us. “

Tech giant connects 45,000 restaurants With customers in the UK.Highlighting Huge market opportunity‘, It said 21 mealss The average person eats in a week, Less than one Pass through online transaction..

The company gives its clients the opportunity to buy stock.

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Deliveroo founder plans to cash as £ 8 billion IPO reveals

Source link Deliveroo founder plans to cash as £ 8 billion IPO reveals

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