The clock has finally started ticking for Deliveroo, an on-demand food delivery company backed by Amazon. The company recently announced that it has planned to list on the London Stock Exchange. It even published its selected financial information for the previous fiscal year along with the Expected Intention to Float (EITF). deliveroo 223.7m 100m yoylundentechcrunch. This is marked a two-week period until the company will publish its prospectus. Deliveroo will embark subsequent IPO at the start of April.
The company remain to be a non-profitable organization. deliveroo 223.7m 4.1b. The underlying loss of 2020 was £223.7 million ($309 million), that was down by nearly £100 million from 2019. That was year when the company chalked up a loss of £317 million ($438 million). It has disclosed the net revenue in its recent statement. The company is now serving around 6 million customers, with its three-sided marketplace that also includes more than 115,000 restaurants, takeaways and grocery stores. Not just this, it has recorded 100,000 riders in 800 locations among 12 markets. There was a clear momentum observed for Deliveroo in the year when many restaurants had to close their doors and stick to take-away models because of COVID-19.
The gross transaction volume of the company (total amount spent by consumers ordering food) grew by 64% to £4.1 billion ($5.67 billion) in Q4. The value surged to £5 billion. This figure is unsurprising considering the fact that Q4 is the holiday period. The company’s valuation was over $7 billion in its last fundraising.
The prospective amount that will be raised by the IPO is still not known. However, Deliveroo plans to invest in its long-term proposition. The focus will be on developing its marketplace, enhancing consumer experience, providing restaurant and grocery partners with efficient tools that can help them manage & grow their businesses, as well as providing riders with the flexible work.