First Deliveroo backers now have stake worth 431 times original investment
The investors who piled into Deliveroo at its earliest stages will be rubbing their hands as the takeaway giant prepares for its bumper London listing.
The investors who bought into the takeaway back in 2013 will now have a stake worth £646, around 431 times their original investment according to data from MarktoMarket.
In September 2013 the company raised £115,001 from friends and family at £1.50 a share, valuing the company at around £1.5m.
Just seven months later Deliveroo fundraising round valued the firm at £9m and then £46m by the end of 2014. By 2017 Deliveroo secured unicorn status with a valuation of over £1bn.
Since then Amazon has bought a minority stake in the company and now Deliveroo is set to list with a valuation of between £7bn and £8bn.
The takeaway app is set to open up the listing to retail investors and customers, making £50m worth of shares available to customers. Each customer will be able to apply for up to £1,000 worth of shares.
“Far too often normal people are locked out of IPOs, and the only participants are the institutional investors. I wanted to give as many customers as possible the chance to become shareholders,” co-founder Will Shu said.
While transactions may have surged to over £4bn during the pandemic, Deliveroo is still a loss making business.
Deliveroo said underlying gross profit soared 89.5 per cent to £358m in 2020, compared to £189m in the previous year. It narrowed underlying losses for the year to £223.7m, compared to £317m in 2019.