Deliveroo flotation snubbed by star technology investor James Anderson | Business
Britain’s leading technology investor and a huge backer of takeaway delivery platforms has said that he will not be investing in Deliveroo, the company floating in London this week with an £8 billion valuation.
James Anderson, manager of Scottish Mortgage, the UK’s biggest investment trust, said that he was “lukewarm” about Deliveroo because of its focus on slower-growing markets and its overreliance on London.
Anderson has accumulated large stakes in other home delivery platforms, including Meituan in China, Delivery Hero, a key force in other Asian markets, and Grubhub in America, and backs the model in dynamic markets. However, he argued that Deliveroo would find it difficult to replicate their success.
“I think that is more difficult for Deliveroo to do,” he said.
Gloss