SoftBank-Backed App Rappi Expects to Be IPO-Ready in 12 Months

Rappi Inc., one of Latin America’s most valuable startups, expects to be ready to launch an initial public offering in 12 months, co-founder Simon Borrero said in a press conference.

The Colombian company, which offers delivery services in nine countries, has now reached profit levels that allow the leadership to consider an IPO, with New York as the “likely” jurisdiction, Borrero said, adding that in the past three years its revenue has doubled.

Rappi co-founder Simon Borrero

Photographer: Alejandro Cegarra/Bloomberg

“We will be ready in a year, but we are not in a hurry,” he said. “Now that we are profitable, we are generating cash ...