Deliveroo deliver shares to its employees, riders not included
Food delivery company Deliveroo will offer all permanent employees $18 million in shares to give them a stake in the company.
The shares will be offered to most of the 2000 staff employed around the world including 80 staff in Australia’s Sydney, Melbourne, Brisbane and Perth offices.
Australian manager of Deliveroo Levi Aron said,
“All permanent staff will receive the options. The shares will vest over a period. After a certain level of service and subject to certain criteria.”
“This will apply to all new starters at Deliveroo going forward. Shares will be vested to employees over a period. of time They will not have to provide upfront capital to buy equity in the company. This is on top of existing options agreement for a number of staff who already had share options in the company.” He continued.
Since its launch in the UK in 2013, Deliveroo has raised $1.2 billion and is valued at more than $2.6 billion.
In Australia, its service now covers 10 cities, along with partnerships with more than 4,500 restaurants and 3,800 riders.
According to Deliveroo’s announcement, the delivery riders are not being given the opportunity to participate in the employee share arrangements.