Deliveroo employees are getting shares, riders are getting nothing

Europe

Technology / Europe - 45 Views 0

Food delivery startup Deliveroo is feeling generous today. The company is handing out equity to all full-time staff members. In other words, 2,000 employees are going to receive the equivalent of $13.5 million in Deliveroo shares.

“Our phenomenal growth and success has been made possible thanks to the hard work, commitment and passion of the people who make this company what it is,” co-founder and CEO Will Shu told Reuters. “And that deserves recognition which is why I want all employees to be owners in Deliveroo and to have a real stake in the company’s future as we expand and grow.”

This is a great way to prove that you care about your employees. And yet, there are a few caveats.

First, the company is currently worth over $2 billion. In total, Deliveroo is just handing out 0.675 percent of the company to its employees. I’m sure plenty of early employees already have equity.

But those who joined more recently aren’t likely to get rich over this — it represents a $6,750 equity bonus per employee on average. And shares usually vest after a certain amount of time.

Second, this is the perfect example of the gig economy. In addition to the usual benefits,

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