Deliveroo’s boss has said the collapse of Silicon Valley Bank shows it was right to go public despite the takeaway app’s value dropping 80 per cent since its IPO.  

Will Shu, chief executive, said the bank’s collapse threatened to create more problems for privately-held tech rivals in raising the cash they needed to subsidise losses.

“I don’t think SVB helps the situation in terms of risk appetite for private investors [and] I do think it will be difficult for [them],” Mr Shu said.

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