Deliveroo is understood to have appointed Goldman Sachs to start working on plans for an initial public offering (IPO).
The delivery giant, which is now part-owned by Amazon, is expected to officially go public in London next year achieving a valuation of more than £2 billion.
While speculation about Deliveroo’s IPO has been rife for some months, Sky News reported that the company has now enlisted the help of Goldman Sachs to move its proposition forward, with further banks expected to be hired in the coming months.
It comes as Deliveroo has emerged as one of the few success stories of the pandemic, seeing supermarkets flock to the service to help them rapidly expand delivery capabilities to meet a spike in demand.
Deliveroo now delivers for 16 convenience and grocery companies in the UK, including Waitrose, Morrison’s, Aldi, and Co-op covering over 1000 stores.
It also delivers from more than 44,000 restaurants across the country, though unlike grocery, the restaurant sector has been hit hard by the pandemic.
In light of this surge in popularity, Deliveroo announced last month that it will hire 15,000 new riders over the next three months as new partnerships with retailers and restaurants “soar”.
Furthermore, it is introducing a range of new features to its app, including a group ordering system, a post order tipping feature, and a “Brough to you by Deliveroo” service.
This will allow customers to order food on a company’s own website and have it delivered by Deliveroo.