EMPLOYEES at British food courier Deliveroo will become shareholders in the company and receive a share of equity totalling almost £10 million (S$18 million), the firm said, although the programme will not extend to its riders.
The delivery business, whose green and black liveried bicycling couriers are a familiar sight on the streets of the City, is to hand the stock options to nearly 2,000 permanent staff.
Deliveroo counts on 35,000 gig economy couriers to deliver takeaway meals ordered through the app, but will only be granting its 2,000 permanent workers in the 12 markets it operates in share options.
According to Deliveroo, the announcement will apply to all current and future permanent employees.
Following its last fundraising round the company has raised US$957m (€810m) to date and is valued at over US$2bn (€1.69bn).
Mr Shu says: "Employees at Deliveroo have made the company what it is today, and what sets us apart is our vast hunger to win, strong focus and care and a clear vision for the future". The move will be worth almost £10m in total for the majority of the 2,000 staff at firm which has its global headquarters in London and operates in 12 markets across the globe.
"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".
However, union's reacted with fury to the news, describing the move as another slap in the face for drivers.
"They are the ones that carry the company on their backs".
"It's disgraceful Deliveroo are once again treating it's delivery workers with such contempt".