Saturday, May 28News That Matters
Shadow

Tag: Amazonbacked

Amazon-backed food delivery firm Deliveroo picks London for its blockbuster debut

Finance
A Deliveroo courier rides along Regent Street delivering takeaway food in central London during Covid-19 Tier 4 restrictions.Pietro Recchia | SOPA Images | LightRocket via Getty ImagesLONDON — British food delivery start-up Deliveroo announced Thursday that it plans to list in London, in a post-Brexit boost for the City.The firm, which is backed by Amazon, is expected to go public later this year. It went from near failure in 2020 amid a competition review into Amazon's minority investment, to operating profitability toward the end of the year thanks to the coronavirus lockdown-driven surge in demand for online takeout services. Amazon's stake in Deliveroo was greenlit by the regulator last summer.Deliveroo said it would adopt a dual-class share structure for its market debut, giving its f...