New Deliveroo director may be hungry for a fresh float

IS THIS a tell-tale sign that takeaway delivery firm Deliveroo is gearing up for a stock market float?

The technology start-up has hired Frank McGlade as its director of corporate and business development. It may not sound like a huge deal, but this is the same post McGlade held at rival food delivery firm Just Eat just before its £1.5billion float in 2014.

McGlade left as chief financial officer of Emoov in December last year, having joined in February as it was lining up a listing of its own.

However, the estate agent went bust so that never happened.

Deliveroo, which helps users order food from restaurants via a smartphone app, is among Britain’s most valuable technology start-ups, having raised hundreds of millions of pounds with venture capital firms away from the public eye.

But that could be about to change. The company’s ambitions to float on the stock market are no secret.

It is thought that a separate private funding round will happen before any float. Perhaps McGlade is eyeing another possible payday on the horizon.