Deliveroo debut triggers customer indigestion Takeaway delivery group invited customers to buy shares that promptly slumped
about 7 hours ago
Food-delivery start-up Deliveroo Holdings sank as much as 31 per cent in its London debut on Wednesday. Photograph: Chris J Ratcliffe/Bloomberg
Deliveroo customers that logged on for the Katsu curry or Five Guys meal deal, but ended up shelling out for shares in the food delivery app, have ended up with a serious case of indigestion.
The company, founded and led by US entrepreneur and former Morgan Stanley analyst Will Shu, finally floated on the London Stock Exchange (LSE) on Wednesday after much hype. It could not have gone much worse. The stock slumped as much as 30 per cent on its debut, knocking £2 billion (€2.4 billion) off its market value.