|Bid||0.00 x 800|
|Ask||0.00 x 1100|
|Day's Range||32.89 - 34.00|
|52 Week Range||13.71 - 41.86|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 02, 2020 - Nov. 06, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||41.51|
(Bloomberg) -- U.K. food-delivery startup Deliveroo has begun preliminary talks to explore an initial public offering, people familiar with the matter said.The Amazon.com Inc.-backed company has had discussions with potential advisers regarding the possibility of an IPO in 2021, the people said, asking not to be identified as the talks are private. No final decisions have been made and Deliveroo may still decide against going ahead with listing plans, they said.A representative for Deliveroo declined to comment.Food delivery companies have been expanding rapidly, with rivals Just Eat Takeaway.com NV and Delivery Hero SE announcing acquisitions this year. U.K. regulators cleared Amazon’s investment in Deliveroo in August after a probe that lasted almost a year and froze the majority of a $575 million capital injection.Although initially struggling at the start of the lockdown, Deliveroo got a boost as the year went on as customers avoided supermarkets and ordered takeout meals and groceries. Deliveroo was valued at more than $2 billion in 2017, but didn’t reveal a valuation after its latest investment round in May 2019. Deliveroo previously said sales from its food-delivery business grew 72% in 2018, reaching 476 million pounds ($607 million) for the year.Launched in 2013, Deliveroo has become one of the U.K.’s main food delivery companies, alongside Uber Eats and Just Eat Takeaway. These companies have been expanding into grocery delivery, with Waitrose and Deliveroo recently teaming up to offer quick deliveries of select goods.Uber Eats and Deliveroo are also battling for so-called virtual restaurants, where eateries lease kitchen space to prepare food for couriers. With no dining rooms or wait staff, these outfits pop up where food delivery companies expect demand, and sell their meals through Uber Eats or Deliveroo’s app.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Uber Technologies Inc-owned Middle East business Careem is seeing its ride service recover more quickly than expected from the coronavirus crisis, while its delivery business is larger than before the pandemic. Careem, which mainly operates in the Middle East, had originally forecast that its ride service would recover at the end of 2021, but now expects it to rebound earlier in the year with some markets already close to pre-COVID levels. "We are seeing a strong recovery in the rides business and we are seeing a pretty significant acceleration in the deliveries business," Careem CEO Mudassir Sheikha told Reuters.
Just as COVID-19 has accelerated the move to remote work, our current crisis has accelerated the trend toward hiring independent contractors. Back in 2019 a New York Times report found that Google had a shadow workforce of 121,000 temporary workers and contractors, overshadowing their 102,000 full-timers. ZipRecruiter reported in 2018 that tech, along with its record employment growth, was showing an increasing share of listings for independent contractors.