Online food delivery company Deliveroo has secured an additional $150 million in funding from shareholders, including Amazon.
Derrileoo has already raised $1.5 billion from investors with plans to innovate with funds, set it up as a delivery-only kitchen site and use the funds to grow its online grocery business. I did. The highly anticipated float, which is projected to be in the London market and is being promoted as early as next month, will be the biggest new stock issue in three years.
US investment banks JP Morgan and Goldman Sachs were hired to advise on floats. The company did not reveal how much each investor contributed to Deliveroo’s latest funding round.
It has not yet been confirmed whether it will be listed in London or in New York, but Yahoo Finance warns that Brexit may have “stopped the London IPO suing.” Nevertheless, the list of capitals will increase competition.
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Last week, Jitse Groen, CEO of Takeaway.com, said that it makes life in the capital very, very, very, very, very, very, very complicated.”
Last month, Derveoo announced that it would add 100 more cities and towns in the UK to its delivery service. There are already 140,000 restaurants on the platform.
The Competition and Markets Authority (CMA), a UK competition regulator, approved Amazon’s purchase of 16% stake in Derveroo in August last year in May 2019, dissenting only from local competitors. I have rejected it.
However, as the restaurant industry rapidly evolves away from traditional dining services as a result of the pandemic, it has managed to secure a £5.755 billion deal to buy comparable Grubhub in June.
Derveoo is currently operating in 12 countries. It is mainly operated in Western Europe, as well as Australia, Hong Kong, Singapore and the United Arab Emirates.
The company was founded in 2013 by former investment banker Will Shu. In 2019, heavy investments in technology caused a loss of £319.9 million, forcing a short-term £1.98 billion loan to mitigate the losses. , however, sales spiked during the pandemic as online food delivery helped subsidize paralysis in the restaurant industry.
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But since then, the coronavirus pandemic has driven a significant increase in appetite for online food delivery. Over 2020, Derveoo has more than doubled its UK and Ireland revenues.
