London (CNN Business) Amazon-backed food delivery startup Deliveroo has announced plans to give some of its busiest riders £10,000 bonuses ($13,850) when it goes public in a huge London IPO. Deliveroo on Monday confirmed plans to list on the London Stock Exchange following a surge in business during the pandemic. But the tech company still posted an underlying loss of £224 million ($310 million) in 2020, raising questions about its valuation. The listing is expected to value Deliveroo at more than $7 billion, according to Reuters, but other media reports have pegged the target at up to $10 billion. A Deliveroo rider delivering takeaway food in central London.

Source: CNN March 08, 2021 11:37 UTC