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The food delivery giant has made its debut on the London Stock Exchange.
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Estimated at £800 million-£1 billion for 2020
800 towns and cities
IPO share price:
What happened with Deliveroo’s IPO?
Deliveroo’s IPO took place on March 31 2021, listing on the London Stock Exchange under the ticker ROO.
It sold over 384 million shares in an attempt to raise up to £1.5 billion. The food delivery juggernaut priced its shares at £3.90 each, which was at the lower end of its target range. This gave it a valuation of £7.59 billion at the commencement of trading.
But soon after conditional trading started at 8 am, the company’s share price fell by 30% to £2.73, wiping approximately £2 billion off the company’s valuation.
Unconditional trading is due to start on April 7, which is when existing shareholders will be able to sell their holdings to other parties. But you can already speculate on Deliveroo shares with us via spread bets and CFDs.
What next for Deliveroo?
Deliveroo’s plan in 2021 is to expand into around 100 more towns and cities across the UK, with an expectation of reaching 4 million more people, as well as boost its range of providers in 150 existing locations. It also seeks to develop its grocery offering, as well as double the number of its ‘Editions’ brand of ‘hub’ restaurants.
Why did Deliveroo go public?
Deliveroo founder Will Shu said that going public will enable the company to continue to invest in innovation, as well as new tech tools to support restaurants and grocers. In turn this would create more opportunities for riders and extend choice for consumers.
Who has invested in Deliveroo?
Since its launch in 2013, Deliveroo has raised some £1.2 billion in funding, from the likes of Accel, Index Ventures, Hummingbird Ventures, Durable Capital Partners, and many more.
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