Deliveroo, the online food delivery start-up backed by Amazon, is planning to list on Thursday in London. The IPO is expected to be valued at 7 billion USD making it the biggest debut in the past three years. The start-up is founded by Will Shu in 2013 and has gained a lot of popularity since then.
Deliveroo has stated that 50 million pounds ($69 million) worth of shares will be reserved for the firm’s customers. Will Shu, the founder, and CEO of Deliveroo has stated that the customers have played a crucial role in the company’s growth, and he wanted to give the customers a chance to be a part of the next phase of their journey.
More details regarding the offer for customers will be disclosed on Monday. Will Shu stated that ordinary people often miss out on IPOs and wanted his customers and company employees to benefit from the IPO. Any customer who has ordered through Deliveroo will be eligible to purchase the shares. Each customer would be able to buy up to 1000 pounds, and in case the offer is oversubscribed, loyal customers would be prioritized.
Deliveroo is announcing a 16-million-pound reward program for its riders who have been crucial to the company on the day of listing.
This IPO is expected to be one of the most exciting IPOs of the year 2021, and as far as the IPOs went last year, it wasn’t quite a good year for them, so 2021 is expected to be a pretty good year for new start-ups willing to go public.