LONDON — The initial public offering for Deliveroo, the Amazon-backed food delivery service, is set to be Britain’s biggest this year, giving the company an initial market value of 7.6 billion pounds, or $10.4 billion. But the listing, whose announcement was quickly heralded as a post-Brexit victory for London’s financial sector, has since been rocked by accusations of poor pay for Deliveroo riders. Last year, Amazon became its biggest shareholder with a 16 percent stake, which will drop to 11.5 percent after the I.P.O. The Deliveroo listing is the latest test for gig economy companies, whose business model is increasingly under threat in Europe as legal challenges mount. In mainland Europe, where Deliveroo also operates, the European Commission is reviewing the legal status of gig economy workers.

Source: New York Times March 30, 2021 19:41 UTC