Food delivery company Deliveroo has announced it will give all of its employees equity in the company.
All permanent staff, present and future, will receive share options. The move will be worth more than $18 million for the majority of the 2,000 staff employed in headquarters across 12 markets across the globe, including 80 Australian staff.
Deliveroo confirmed with Business Insider that its delivery staff will not get the share options as they are considered independent contractors.
CEO of Deliveroo, Will Shu says he wants all of the staff at the company “to be owners” and that the share options were his way of thanking them.
“Employees at Deliveroo have made the company what it is today, and what sets us apart is our immense hunger to win, strong focus and care and a clear vision for the future,” CEO of Deliveroo, Will Shu says.
“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, 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.”
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.