How Deliveroo went from being the idea of a hungry banker to a $2 billion food delivery giant coveted by Uber

• Food delivery startup Deliveroo is one of the UK's hottest and most valuable startups, worth around $2 billion.
• It was started by a former banking analyst who hated the lack of options when he had to eat at his desk.
• Media reports suggest Uber is in early talks to buy Deliveroo.

On face value, anyone could have come up with the concept. An app which brings you food whenever and wherever you want it? It's the kind of thing any irate worker eating a squashed sandwich at their desk could dream up.

Will Shu, the American cofounder and CEO of Deliveroo, knows this. He told the "i" newspaper in 2017 that the idea was "not complicated... anyone can have it."

But it was Shu and his cofounder Greg Orlowski who turned the desk dream into a reality in 2013, thanks to a ruthless focus on making food delivery as seamless as possible.

The Deliveroo app offers takeaway food from thousands of restaurants, many of which never offered delivery services before the startup came along. The eventual goal isn't just to make takeaway easier, but to kill off home cooking for most people altogether.

The startup has revolutionised food delivery, racked up a $2 billion valuation, and is now reportedly in talks to sell to Uber for billions of dollars.

The road hasn't been easy, and Shu and co. have had to contend with thorny issues such as workers' rights for the thousands of freelance drivers who deliver food and don't have access to benefits.

As rumours of an exit swirl, be that an acquisition or IPO, we look back at Deliveroo's story of success.

2001: Deliveroo founder Will Shu is a banking analyst in New York for Morgan Stanley, working long hours and eating $25 takeout with colleagues while pulling late shifts.

2004: Shu moves to Morgan Stanley's offices in Canary Wharf, London, where his takeout budget evaporates. He spends miserable evenings buying food from the local supermarket chain, Tesco. "It just became really depressing," he said, according to Startups.co.uk.

You can read Shu's account of Deliveroo's early days here.

Late 2006: Shu is working at a hedge fund and his hours are more reasonable. Takeaway marketplaces like Just Eat are taking off, but Shu finds them lacking. "It was not a great customer experience," he said.

See the rest of the story at Business Insider

Contributer : Tech Insider https://ift.tt/2zqE0aE

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