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Deliveroo And Coursera Move Forward With IPOs

The tech company IPO rush continues.
(iQoncept)
(iQoncept)
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U.K. food delivery firm Deliveroo, which has Amazon as an investor, has picked London for a future IPO, The Information reports.

The Details:

  1. 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.”
  2. 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.”
  3. 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.
  4. 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.

The Details:

  1. 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.
  2. Coursera operates similarly to Udemy, which is nearing $200 million in annual recurring revenue, and recently launched an enterprise segment to its business
  3. Venture capital firm GSV, which backs ed-tech companies, had a notable stake in Coursera.
  4. 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.
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