Deliveroo appoints Goldman Sachs to oversee London float

first_img However, further banks are expected to join discussions in the coming months. whatsapp It comes as the food delivery giant saw sales rocket during the pandemic, as a nationwide lockdown and social distancing measures forced customers to eat from home. The group last week announced it is preparing to add an extra 15,000 riders to its fleet by the end of the year to meet fresh partnerships and a surge in demand. Deliveroo declined City A.M’s requests to comment on Goldman’s appointment, and it is understood that there is no definitive timetable for a public listing.  In June, the CMA gave Amazon the green light to pump £442m into the food delivery company, after Deliveroo warned the watchdog that the “impact of the coronavirus pandemic on its business meant that it would fail financially and exit the market without the Amazon investment”. Deliveroo now has an estimated 44,000 restaurants and 16 grocery partnerships on its platform in the UK, including supermarket giants Waitrose, Morrison’s Aldi and the Coop. Poppy Wood Deliveroo has appointed Goldman Sachs to oversee its long-awaited London flotation, according to reports, in a move that would value the UK food delivery company at more than £2bn. (Getty Images) Deliveroo, founded by Will Shu in 2013, swung to a profit earlier this year just months after warning the UK’s competition regulator it could go bankrupt. The nationwide lockdown came as a welcome boost for the food delivery company, after it last year struggled to turn a profit. Last September, Deliveroo said losses had deepened from £199m to £232m in 2018. Tags: Goldman Sachs by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USANoteableyAirport Security Couldn’t Believe These Jaw-Dropping MomentsNoteableyPast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryDefinitionThe 20 Worst Draft Picks Ever – Ryan Leaf Doesn’t Even Crack The Top 5Definitionbonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickGadgetheory39 Of The Most Beautiful Women In HistoryGadgetheoryBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach Raider Deliveroo appoints Goldman Sachs to oversee London float (Getty Images) Also Read: Deliveroo appoints Goldman Sachs to oversee London float The company jumped on Rishi Sunak’s plans to boost the UK’s V-shaped economic recovery, rolling out £5 discounts for customers as part of its Eat In to Help Out offer across August and September. Before the Open: Get the jump on the markets with our early morning newsletter During both May and June, Deliveroo had “both been profitable and had a positive cash flow” following a “significant increase” in order volumes during the pandemic, the Competition and Markets Authority (CMA) said.  Share The CMA’s ruling that Amazon’s 16 per cent stake in the firm was “not likely to result in a substantial lessening of competition” laid the ground for further innovation for the delivery giant. The Amazon-backed startup is expected to debut on the London stock market next year following discussions with the investment banking firm, Sky News reported.  (Getty Images) Also Read: Deliveroo appoints Goldman Sachs to oversee London float whatsapp Show Comments ▼ Monday 5 October 2020 12:51 pmlast_img

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