U.K. food delivery firm Deliveroo, which has Amazon as an investor, has picked London for a future IPO, The Information reports.
- The company made the choice after the U.K. government “sought to overhaul listing rules giving founders and executives the chance to retain more control in public offerings.”
- Founder William Shu said when the IPO happens, the company would plan to implement a dual-class share structure, “giving the U.S.-born executive better voting rights in future listings.”
- It’s a structure common for U.S. tech companies, and the U.K. is planning to loosen restrictions (including on structures) to create a more favorable climate for home-grown companies to list.
- Deliveroo is currently in 12 countries and has a big presence in Europe. The company was valued at more than $7 billion in January, and Amazon “has a minority stake in it after leading a $575 million investment round in the food delivery company in 2019.”
Online education platform Coursera is planning to file paperwork for an IPO, TechCrunch reports.
- Coursera was most recently valued at $2.4 billion after a fundraising event in July 2020. Bloomberg has since pegged the company at $5 billion.
- Coursera operates similarly to Udemy, which is nearing $200 million in annual recurring revenue, and recently launched an enterprise segment to its business
- Venture capital firm GSV, which backs ed-tech companies, had a notable stake in Coursera.
- Its latest fundraising round brought its cash levels to roughly $300 million, which is “right around the money that Chegg had before it went public.” After an IPO, Coursera would join other public ed-tech firms 2U, Chegg, K12 Inc and Zovio Solutions.