Deliveroo reduces losses

Deliveroo

Over the past year, Deliveroo has - again - grown strongly, while still making a considerable loss. The British meal delivery company continues to work on the previously announced IPO.

 

Covid-19 effects last

Deliveroo saw its transaction value increase by 64 % to 4.1 billion pounds (4.8 billion euros) last year. More than six million people ordered at least once through the platform, which now works with 115,000 restaurants and 100,000 delivery drivers in twelve countries. "Even after governments re-allowed restaurant visits post-lockdown, customers remained active and maintained a strong order frequency", the company reports in a press release.

 

The strong growth could not prevent the company from recording a loss of 223.7 million pounds (260 million euros). The deficit is considerably lower than a year ago, when Deliveroo's profit was a negative 317.3 million pounds (370 million euros).
 

Fund for delivery drivers

The company's IPO, which was announced last week, has meanwhile officially begun: Deliveroo will be listed on the London Stock Exchange at a valuation of about six billion euros.

 

The meal delivery company will also create a 16 million pound (18 million euro) 'Thank You Fund' to help loyal delivery drivers benefit from the IPO. According to the Belgian magazine Trends, around 36,000 deliverers will receive a 'bonus' of around 500 euros.