Will Shu, the co-founder and chief executive of British takeaway delivery business Deliveroo, has delivered a rebuke to critics who labelled its stock market float a “failure”, as he declared that the UK was still “a great place to start a business”.
Last week, Deliveroo agreed to be acquired for £2.9 billion by its American counterpart DoorDash. Deliveroo was derided by some investors as “Flopperoo” after its £7.6 billion float in 2021 failed to live up to its promise of leading a generation of homegrown tech firms on to the London Stock Exchange.
Shu, 45, said: “We went public at a high valuation. Interest rates were mega low. This was sort of peak Covid kind of craziness.” He said that some say “Deliveroo’s a failure,
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