Deliveroo picks Goldman to steer restaurant app to London float
The food delivery app is unveiling new services as it picks bankers to work on a public listing, Sky News learns.
Deliveroo has appointed investment bankers to oversee a long-awaited flotation as it unveils a blizzard of innovative features that it hopes will provide a compelling growth story for public market investors.
Sky News has learnt that the food delivery app, which last week said it was preparing to add 15,000 riders to its fleet by the end of year, has begun working with Goldman Sachs on its plans for an initial public offering (IPO).
A float is expected to take place in London next year, and is likely to value the company at more than £2bn, according to insiders.
Deliveroo declined to comment on Goldman's appointment, and sources close to the company insisted this weekend that there was no definitive timetable for a public listing.
Further banks are expected to be appointed in the coming months.
The company, which was launched by chief executive Will Shu in 2013, has seen a surge in sales as customers have turned to food delivery services during the coronavirus crisis.
However, the ongoing costs of its investment in technology led it to warn this year that a refusal by competition regulators to sanction a big investment from Amazon could undermine its chances of survival.