The float is likely to value the company at more than £2 billion , per the report., though it's possible the company will explore other options.This news comes two months after Amazon's 16% stake in Deliveroo was cleared by the UK's competition watchdog in August. Amazon had invested as part of a $575 million round in May 2019, but the cash was put on ice over competition concerns.
Deliveroo has consistently reported losses over the years as it tries to shore up market share against European market leader Just Eat, and Uber Eats. The Amazon investment and IPO chatter suggests a turnaround in its fortunes. The company signaled that it has ballooned during the pandemic as demand for food deliveries soared during lockdown. In September, the app said it was hiring 15,000 new contractor delivery riders by the end of the year. The company has also stated it was profitable through May and June.
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