Britain’s $2 billion food delivery startup Deliveroo has lost one of its most senior executives.
Former chief operating officer Roy Blanga left the firm in December, a source with knowledge of the matter said. Business Insider understands that Blanga’s departure was announced internally around spring.
Deliveroo confirmed Blanga’s departure, and said it had promoted another executive, Rohan Pradhan, to replace him as COO. Blanga did not respond to a request for comment. The source said Blanga was currently exploring his options.
Blanga was previously international vice president of northern Europe at discount giant Groupon, joining Deliveroo in 2015. He led Deliveroo’s global expansion when the delivery startup raised $100 million to launch outside Europe.
Pradhan, his successor, previously led Deliveroo Editions, its pop-up kitchens that help restaurants meet demand for takeout orders.
Deliveroo is one of the best-funded startups in the UK, with almost $1 billion in investment and a $2 billion valuation. Its core offering is the Deliveroo app, which allows customers to order takeaway from a broad range of local restaurants, most of which don’t have an in-house delivery service. Contracted Deliveroo “riders” deliver the food by bicycle or motorbike.
Its American CEO and cofounder, Will Shu, started the company after being frustrated as a City banker with the poor choice of takeaway food available in London.
While Deliveroo isn’t available in the US, Bloomberg reported in September 2018 that Uber was considering acquiring the firm to bolster its UberEats food delivery business.
Sources confirmed that Deliveroo had fielded several acquisition offers, but suggested Will Shu was unlikely to sell. Shu subsequently told Business Insider that his company was not for sale, and insiders have said that any offer from Uber would need to be in the $4 billion to $6 billion range.
According to its 2017 accounts, Deliveroo is growing quickly but also losing large amounts of money. Its revenue for the year grew 116% to £277 million ($361 million) in 2017, on a pre-tax loss of £184.7 million ($241 million).
Ask any banker which of the multi-billion dollar startups will go public first in 2019 and the answer is a sigh of resignation. Back in December, 2019 was set to be the year of unicorns and with windfalls for patient investors, equity-vested employees and gleeful investment bankers alike. Now, just two weeks into the year,...
In the early 2000s, people would balk at the notion of using free, open-source software to run a serious business — companies like Red Hat, which bet its business model on the concept, were seen as oddities. But times have changed. Open-source software is key to most modern computing infrastructures. And over a decade later,...