Mar 31, 2021 - Economy
Food delivery company Deliveroo's first-day flop
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Food delivery company Deliveroo’s much-anticipated public listing in London had a rough first day on the market.
Why it matters: Deliveroo was expected to be a watershed moment for London’s stock exchange as the biggest company to go public since Glencore nearly a decade ago, and the first of hopefully many more Big Tech IPOs.
The intrigue: Some institutional investors opted to sit out the IPO, citing concerns about its business model and ongoing labor tensions with its delivery workers.
