Connect with us

Hi, what are you looking for?

Investing

Deliveroo to hand larger slice of company to regular customers

Deliveroo

Customers of Deliveroo seeking a slice of the company’s blockbuster float are set to receive larger portions of shares if they have ordered regularly through the Deliveroo app.

The food delivery group’s £50 million “community offering” is on track to be oversubscribed, meaning that applicants will be ranked according to their “loyalty”, with the shares apportioned accordingly, City sources said.

The technology company owns an app through which customers order deliveries from restaurants and groceries from shops. Unusually for a big initial public offering, Deliveroo is selling some shares directly to individual investors instead of relying solely on financial institutions. Applications for its community offering close on Tuesday.

UK-based customers who have placed at least one order through Deliveroo can apply for up to £1,000 of shares in increments of £250.

Deliveroo said in its float prospectus that it would “prioritise . . . its most loyal customers first” if the community offer was oversubscribed, and that it had “absolute discretion to decide on any individual allocation”. If the offer is oversubscribed, the size of each applicant’s allocation will depend on an internal customer ranking assigned by Deliveroo, one source said.

The ranking is the product of Deliveroo’s algorithms and is based on the number of orders they have made, among other things, the source said.

Deliveroo declined to comment on demand for the community offering.

Read more:
Deliveroo to hand larger slice of company to regular customers

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

The national pig herd has lost-one tenth of all sows over the last six months, farmers’ associations have revealed, after breeders were forced into...

Investing

EasyJet plunged £213 million into the red in the Christmas quarter and is still burning through £150 million in cash each month, putting its...

Investing

A new range of healthy yet indulgent cookies will launch in Booths this month for just £1 per pack with the UK-born snacks by...

Investing

Payments firm Checkout.com has raised $1bn (£730m), giving it a $40bn (£29bn) valuation and crowning it the UK’s most valuable private fintech. The London-headquartered...

Investing

Sylvera, a UK-based startup that provides ratings for carbon offsets, has raised $32.6m (£24.1m) in a Series A funding round to accelerate and expand...

Investing

UK-based fintech Everything has raised €2m (£1.67m) to reinvent a decades-old financial product: premium bonds. The raise was led by a group of angel...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.