Deliveroo Eyes News Funding To Help It With $4B Valuation | MobileAppDaily
Mobile App

Deliveroo Eyes News Funding To Help It With $4B Valuation

Currently, Deliveroo is valued at $2 billion

https://dk2dyle8k4h9a.cloudfront.net/Deliveroo Eyes News Funding To Help It With $4B Valuation

Deliveroo, a food delivery app is reportedly in talks to raise more funds that are expected to help the company to be valued at $4 billion. The hundreds of millions of pounds funding are anticipated to come in from the existing and new investors.

According to speculation by the Sky News, by adding up to its valuation, the company might be aiming to strike a takeover deal from rival technology firm Uber.

However, the company is in the very initial stages of raising funds, and it might take several months to see something materializing. Deliveroo might be looking up to raise $500 million of funds to reach the valuation of $4 billion

Currently, the company sits at a valuation of $2 billion and a couple of months back; there were reports of Uber’s interest in acquiring the British online food delivery company. But there was nothing substantial that came out of the initial spark.

Deliveroo handles a sizeable amount of food delivery section in the UK. While serving restaurant chains like Byron, Pizza Express, Rossopomodoro, and Wagamama, the company has deployed around 15,000 delivery riders in the UK to take care of its business. The other top rivals of Deliveroo include Just Eat and the FTSE-100 company.

A year ago, Deliveroo was able to raise $385 million in funding. The Series F round of funding was led by U.S. fund managers T. Rowe Price,  and Fidelity. At that time, the company planned to invest in three aspects of its business; first was the expansion of its “Editions” programme, the second was to grow the size of its technology team, and the last one was the expansion in the new towns.

There is also a report of the initial public offering, but that won’t be possible in the coming months. So, if the company is looking at that perspective, it still needs some more time to finalize on that.

Interestingly, after the series F funding, Deliveroo doubled its revenue last year, but at the same time, the company was hit with the loss of around £185 million. Though losses are common in such startups, still it doesn’t add any value to the investors' interest in chipping up investment.

Vikram Khajuria
Written By
Vikram Khajuria

Jack of all trades. Covering the journalism field, Vikram writes at MobileAppDaily and keeps surfing the trends to understand tech and inventions better. Don’t forget his driving skills, he is a professional car rallyist. Life has just got better. Breathe it!!

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Mobile App

Uber To Sell Auto-Leasing Business To Fair.com

Neha Baluni 4 min read  

Uber is unburdening its loses by giving away its right on auto-leasing business to Santa Monica startup Fair.com. The ride-sharing giant has taken the step in order to come over the loses it has been experiencing in the past. Named as Xchange leasing, Uber’s subprime auto-leasing business was

Mobile App

Warning: Whatsapp With New Colors is Nothing More Than a Deceptive Adware

Ariana Johnson 4 min read  

Security is been a primary concern since last few months in mobile app world. Recent incidents raise a question on the security aspects of the mobile applications. Dozens of mobile applications were found not handling the confidential information of the users with rigid steps.According to latest mob

Mobile App

Device Maintenance: New App From Samsung For its Devices on Play Store

Ariana Johnson 4 min read  

Now everything is possible with the help of mobile apps, mobile app technology is a boon for everyone. There were times when someone or any company like smartphone maker depends on other apps for some particular functions. Now tech giants like Adobe and others are giving assistance to the users with

Mobile App

Zomato Hacked: Hackers Stole 17 Million Users Information

Ariana Johnson 4 min read  

We have digitized almost every aspect in the tech-driven world and rely on the tech devices to acquire everything. Mobile applications are like a remedy to all our issues but are these trustable and safe. Recent incidents have raised a question on the mobile applications in terms of security. Once a