Food delivery service Deliveroo has announced plans to float on the Stock Exchange in a move that values the company at more than £7bn.
The huge valuation comes despite Deliveroo's losses coming in at £223.7m over the past year, even while sales increased by 64% to £4.1bn in 2020.
Deliveroo founder Will Shu said some of the company's longest-standing delivery riders would see get a £10,000 bonus from the flotation.
He said the firm would also set up a fund to support restaurants that have struggled during the pandemic.
Mr Shu said: “Today we operate in 12 markets right across the world. 115,000 food merchants, over 100,000 riders, millions of consumers.
“Every single month, every single year, we focused on getting better - sometimes incrementally and sometimes by leaps and bounds - focusing on great food and being customer-obsessed. But the last 12 months were different.
“I was sad to see many of our partners struggle - restaurants owners I've known for years face closure and ruin - all due to some terrible virus.
“So we took action to help. We reached out, brought new technology to them, guided them through the new rules so we all stayed safe, provided more Editions kitchens, and made sure that they could get their food to their customers.
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“Together, we delivered almost a million meals to frontline NHS staff. It made me realise how far we had come. All of us working together - restaurants, riders, consumers and Deliveroo - working as one community.
“Now we take the next big step in our journey by allowing everyone to have a share in our future. That's why we are planning to take Deliveroo public here in London, the city where it all started - and we plan to offer our customers across the 海角视频 the chance to own a part of the business.
“We are proud to be enabling our customers to participate in a future float and have the chance to buy shares. Your loyalty and custom has helped build our business. I want you to have a chance to share in our future.”
In its announcement, the Amazon-backed company reported a surge in demand from restaurants seeking to use the platform, after sites were forced to close for dine-in customers for large parts of the year.
It said that more than six million people order through the 115,000 restaurants, cafes and stores on its platform each month.
Deliveroo revealed an underlying loss of £223.7 million for the year despite the jump in transactions, although this represented an improvement on its £317.3 million underlying loss in 2019.
The company has continued to invest heavily in its expansion and currently covers about 800 locations in 12 countries.
Its filing also confirmed the group will list with a dual-class share structure, which will give founder Will Shu 20 votes per share and provide all other shareholders with one vote per share.