Deliveroo IPO raises questions around worker rights and dual class share structures

Summary

Several fund managers have elected not to participate in Deliveroo Holdings plc’s (Deliveroo) impending initial public offering (IPO), with concerns over the company’s treatment of workers and the dual class share structure. The roster includes Legal and General Investment Management, which is the UK’s largest fund manager with £1.3tn of assets under management.  Similarly, M&G, Aberdeen Standard Investments and Aviva Investors have told the Financial Times that they too will “shun” the listing (“Legal and General joins investors shunning Deliveroo IPO”, Financial Times, 25 March 2020).

Background

Deliveroo is a popular online food delivery company founded in London.  Customers use an app or website to order food from grocers, local restaurants or ‘ghost kitchens’ and the food is delivered by self-employed bicycle or motorcycle couriers.  Revenue is generated by charging fees to both restaurants and customers.

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Uber: Not Just Cars — All Transportation All the Time

Unless you are living on another planet, you are quite familiar with how to summon an Uber car on an app on your phone so that an Uber driver can pick you up and drive you to the destination of your choice. But Uber is not content with just this form of transportation. Indeed, Uber has grand dreams of being an all-encompassing hub for many types of transportation. Let’s take a look at some of these transportation offerings.  Continue reading “Uber: Not Just Cars — All Transportation All the Time”

The Rise of Uber Dealt a Current Blow in London

Once upon a time not that long ago, we generally took taxis for ground transport from one specific location to another within and around cities. At times, it was difficult to obtain a taxi when desired, or to avoid a wait, a taxi would need to be reserved quite a while in advance. But, then along came Uber as a ride-sharing game-changer with many positive advantages. However, Uber also has taken some recent hits, including losing its license to operate in London.

Uber is fantastic in many respects. By using an app on a smartphone, we can track the closest Uber driver, and in many urban areas an Uber car will come to us within just a couple minutes. No longer are we tied to taxis, or even the need to rent or own cars in Uber-friendly cities.  Continue reading “The Rise of Uber Dealt a Current Blow in London”

Thankful for Technology

At times, it can seem like technology is bringing us down …

We frequently hear about: cyberbullying of teens; online intellectual property infringement; various forms of identity theft, hacking, privacy and security violations, and cyber crime; cyber warfare; illegal sales of munitions and slaves and the organization of terrorist activities on the Dark Web; political email scandals; potential foreign Internet influence over US political elections; and the list goes on and on.

But during this Thanksgiving and holiday season, not only can we be thankful for our family and friends, we also can be grateful for the many benefits of technology.

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