Deliveroo Riders To Get Cash Bonus If Potential IPO Succeeds

Deliveroo on Sunday March 7 announced plans to make £ 16million (S $ 26.5million) in payments as part of a thank you fund for runners around the world.

This investment precedes a possible public offering

The Thank You Fund is expected to launch on the day of Deliveroo’s initial public offering (IPO) and will be available to active riders in the 12 markets in which Deliveroo operates.

The food delivery giant aims to recognize the invaluable role runners have played in the journey to an expected list via the multi-million dollar fund.

Riders are at the heart of our business and we want to reward their efforts which have helped Deliveroo become what it is today. Their commitment to great service has allowed us to grow and deliver the best food delivery experience in the world.

Will Shu, Founder and CEO of Deliveroo

Based on the number of orders delivered

Deliveroo Thank You Fund
ImageCredit: MLR Institute

According to Deliveroo, runners will be eligible for payment based on the number of orders they have delivered.

There will be payments of S $ 18,500, S $ 1,850, S $ 925, with all runners who have worked with Deliveroo for at least one year and completed 2,000 orders receiving S $ 370.

Payments under the Fund will be calculated based on the number of orders made by each eligible rider.

The largest payments will be made to the riders who have placed the greatest number of orders in each market.

Hundreds of active runners around the world are expected to receive the biggest payout of S $ 18,500.

The percentage of runners eligible for each of the different awards will be consistent across all markets.

The average payout per eligible rider will be SG $ 815 and more than a quarter of Deliveroo’s global passenger fleet – or 36,000 passengers – is expected to benefit from this program.

“Over the past year, cyclists have helped us do so much more than just delivering great food, supporting businesses and enabling vulnerable people or those who are isolating themselves to stay safe at the interior during a global pandemic. We are happy to be able to thank you, ”said Will Shu, Founder and CEO of Deliveroo.

In 2018, Deliveroo announced that it would make all of its permanent staff shareholders of the company to thank its staff.

The move, worth nearly £ 10million ($ 18million), means the majority of Deliveroo’s 2,000 permanent employees around the world have been given stock options in the company.

Featured Image Credit: Retail News Asia

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Jothi Venkat

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