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SoftBank-Backed Rappi Planning IPO in 2022, Co-Founder Says

A workers places food in a Rappi app insulated delivery bag in Mexico City, Mexico.

A workers places food in a Rappi app insulated delivery bag in Mexico City, Mexico.

Photographer: Alejandro Cegarra/Bloomberg
Updated on

Colombian delivery app Rappi Inc. is preparing to go public next year in what would be one of the highest-profile U.S. listings for a Latin American company.

The SoftBank Group Corp.-backed business has held informal conversations with banks, and plans to hire advisers and prepare its listing paperwork in the first half of 2022, co-founder Juan Pablo Ortega said on the sidelines of the Web Summit conference in Lisbon. An initial public offering would happen later in the year.