It's been a bit of a dull day in markets so far, but Deliveroo looks set to spice up the FTSE πŸ‘€ Β after Sky News reported the company is set to publish an expected intention to float announcement on March 8th...

While Sky said the date wasn't definitive and remains subject to change, the deal will bring to public markets one of the UK's most prominent tech businesses.

Goldman Sachs and JP Morgan are set to lead the food delivery app's stock market debut, Sky said.

Deliveroo raised $180 million from investors last month, valuing the company at $7 billion...

A hefty price considering losses of Β£319.9 million in 2019...

However, nowadays, there is an army of Deliveroo riders and drivers patrolling high streets after the coronavirus pandemic gave a helping hand to the business.

Something that helped kick up its valuation as well.

The Amazon-backed firm also announced growth plans in January, stating that it will expand into approximately 100 new towns and cities across the UK...

With lockdown measures still in place, it expects to reach four million new people, especially after a surge in new restaurants joined its platform in 2020.

Deliveroo looks like its set to be the first of several British tech 'unicorns' to go public this year...

Why Is The FTSE A Bad Index?
One of the great disappointments that I face when I look at global indices liesclose to home. Let’s face it... The FTSE is boring. It’s lethargic and uninspiring. Quite frankly, it’s crap. For such a powerful country (yes, the UK is still 5th in the world in terms ofGDP, DESPITE BREXIT), havi…

And, if you have read David's analysis above, you will know that its exactly what the FTSE needs.