Deliveroo reportedly headed for $1.5bn valuation

Deliveroo is reportedly set for a $1.5bn (£1.2bn) valuation, as the takeaway ordering app company approaches its next round of financing.

According to Sky News, Deliveroo is in talks to secure investment from the SoftBank Vision Fund – at $93bn, the biggest tech fund in history, backed by the likes of Qualcomm and Apple, plus the state-owned investment vehicles of Saudi Arabia and Adu Dhabi.

Deliveroo is said to be seeking an investment roughly in line with its last round of funding, which raised $275m from investors DST Global, Bridgepoint and General Catalyst.

Deliveroo’s USP has always been that, unlike rival services such as JustEat, it opens up restaurants that haven’t traditionally offered their food for delivery. However, other tech companies entering the food delivery space, like Amazon and Uber, also work on this model.

Notably, Uber Eats last month became the first service to offer home delivery from McDonalds in the UK,  beginning with a limited trial in London, Leeds and Nottingham. Whether these high-profile partnerships will impact on Deliveroos future remains to be seen.

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