Deliveroo announced today that it is considering leaving the Spanish market, citing limited market share and a long road of investment with “highly uncertain long-term potential returns” on the horizon.
The company, an on-demand outfit based in the U.K., went public earlier in 2021. Its shares initially sagged, drawing concern about both the value of on-demand companies and tech concerns listing in London more broadly. However, shares of Deliveroo have since recovered, and the company’s second-quarter earnings report saw it raise its expected gross order volume growth expectations “from between 30% to 40% to between 50% to 60%.”
Given its rising growth expectations and improving public-market valuation, you may