A Singaporean Deliveroo rider, Jude Chan, has completed more than 21,500 orders in the span of three years with the company and may soon be rewarded with a one-time payment reward of up to S$18,500 if the food delivery company be listed on London Stock Exchange.
Deliveroo on Monday (22 Mar) announced its initial public offering (IPO) has been set at £3.90 to £4.60 (S$7.20 to S$8.50) per share, implying an estimated market capitalization at between £7.6 billion and £8.8 billion (S$14.05 and S$16.27 billion) – which excludes any overallotment shares.
This would make it one of the biggest IPOs on the London Stock Exchange in years.
London-based Deliveroo, which is 16 per cent owned by online retailer Amazon, aims to raise gross proceeds of approximately £1 billion (S$1.85 billion).
As part of the company’s Thank You Fund initiative, Deliveroo aims to reward some 36,000 riders globally who have delivered the most orders should the listing in London goes through, expected to be completed at the end of March.
The payments start from S$370, for riders who have worked for at least one year with Deliveroo and completed 2,000 orders, and increase to S$925, S$1,850 and S$18,500 based on the number of orders they have delivered.
Mr Chan, 33-year-old, has completed more than 21,500 orders in his three years with the company, making him the most prolific Deliveroo rider in Singapore who averages 30 to 40 orders a day.
“It is an honour and it feels good that our efforts are being recognised. I will be donating some of it to charity and investing most of it,” he told The New Paper on Thursday (25 Mar).
Mr Chan also shared a few tricks to completing orders faster, including a brisk walk when collecting or delivering food to customers.
The motorcycling enthusiast also noted that his familiarity with Singapore roads also helped he completes many orders.
“I don’t need a GPS. I am familiar with the roads in the places I normally work at, which is in the town and central business district areas. The shortcuts are at my fingertips,” he added.
Deliveroo’s founder and CEO Will Shu said: “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.”
“We’re pleased to be able to say thank you,” he added.