Deliveroo expects to give US$22m of payments to riders ahead of potential future float
The payments will be based on the number of orders completed by each eligible rider.
As part of a potential future listing in London, Deliveroo announced that it expects to give £16 million (approx. US$22 million) of payments as part of a Thank You Fund for riders globally.
The fund, which would launch on the day of an IPO, will be available to active riders in all 12 markets in which Deliveroo operates, with riders eligible based on the number of orders they have delivered.
Eligible riders in Singapore, for example, there will be payments of S$18,500, S$1,850, S$925, with all riders who have worked with Deliveroo for at least one year and completed 2,000 orders receiving S$370.
The delivery firm says the percentage of riders eligible for each of the different awards will be consistent across all markets. The average payment per eligible rider will be SG$815 and over one quarter of Deliveroo’s fleet are expected to benefit from the scheme.
The payments will be based on the number of orders completed by each eligible rider, with the largest payments being made to those riders who have completed the highest number of orders in each market.
The company expects over 36,000 riders globally will benefit from the fund.
“Riders are at the heart of our business, and we want to reward their efforts that have helped Deliveroo become what it is today. Their commitment to great service has enabled us to grow and offer the best food delivery experience in the world. But over the last year riders have helped us do so much more than just deliver great food, having supported businesses and enabled vulnerable people or those self-isolating to stay safe indoors throughout a global pandemic,” Deliveroo founder and CEO Will Shu said in a media release.