Why was Deliveroo’s IPO such a disaster? And what should investors do now?

Takeaway delivery service Deliveroo had a stinker of an IPO – the share price immediately dropped by around a third. John Stepek looks at what went wrong.

Deliveroo
Deliveroo's IPO wasn't the UK's worst – but it wasn't far off
(Image credit: © Getty Images)

Just a quick thing before I start – make sure you watch Merryn’s new video interview, fresh out this morning.

She talks to Dr Pippa Malmgren about Donald Trump’s next move, the nature of the post-Covid recovery, and the potential for a huge baby boom in the next year or so, not to mention NFTs and the threat posed by digital currencies.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.