After a decade in operation, Deliveroo has achieved its first annual profit, amounting to £3m. Initially hindered by competition and cash infusion from investors, the company faced challenges amidst a burgeoning delivery market triggered by Covid. Riders like the author have transitioned from secure employment to precarious self-employment with diminishing rights and wages. Many couriers face physical dangers on the job, yet their compensation has decreased, prompting protests over pay rates as low as £2.90 per delivery.
While companies such as Deliveroo have been pumped full of cash by investors, many have been losing money year after year.
This month, the company made an annual profit for the first time, recording a £3m profit after 12 years in existence.
If I'm honest, almost everyone I know who delivers on a bike has been hit by a car at some point.
Base rates were cut in 2019, resulting in widespread protests, with couriers in London reportedly earning as little as £2.90 a delivery.
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