- Deliveroo founder William Shu told Business Insider “I think an IPO is somewhat logical” for his company.
- The delivery startup’s size and recent investors are signals that this company could well go public.
- Shu also discussed his strategy for America.
Deliveroo founder and CEO William Shu told Business Insider that an IPO would be a logical next step for the food delivery company, given its size, ambition, and the lead investors in its last gigantic round of financing. The company is currently valued at over $2 billion (£1.5 billion), and has taken $860 million (£654 million) in venture funding so far — staggering sums given that it was only founded in 2013.
In Deliveroo’s last Series F round of funding, the lead investors were T. Rowe Price and Fidelity — two traditional financial institutions. Normally, tech startups get their money from smaller venture capital funds.
When asked by Business Insider at the Web Summit technology conference in Lisbon if he had to stage an IPO so that his investors could see a return on the nearly $900 million (£685 million) they have invested, Shu replied, “We’re thinking about all kinds of possibilities. I think an IPO is somewhat logical given the lead investors in this last round. Those are public market investors, T. Rowe Price and Fidelity.”
Would Shu be comfortable running a public company (as opposed to a private one), given all the extra scrutiny and distraction that comes with it?
“What I am focused on is running the company and winning, and really building a product which means the best restaurants for consumers, and getting food to them quickly. Whether that’s in the private space or public space is — there’s definitely differences,” he said. “But ultimately … there’s pros and cons to both, right? I think that for me that’s my focus and whether Read More Here