Will Shu—Major investors boycotted Deliveroo IPO over rider treatment; shares crashed 30% on debut
In March 2021, major institutional investors including Aberdeen Standard, Aviva, Legal & General, M&G, and others managing over £800bn boycotted Deliveroo's IPO citing worker rights concerns. Aberdeen Standard called rider conditions a 'red flag'. The IWGB union reported riders earning as little as £2/hour while Shu stood to net up to £530 million. Shares crashed 30% on opening day - the worst London debut in two decades. Riders went on strike during the IPO.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Executive Compensation | -against | secondary | -0.50 |
| Gig Worker Rights | -against | primary | -1.00 |
| Overall incident score = | -0.066 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.59)× agency (incidental ×0.1)
Evidence (1 signal)
Major investors boycotted Deliveroo IPO over rider treatment; shares crashed 30% on debut
In March 2021, major institutional investors including Aberdeen Standard, Aviva, Legal & General, M&G, and others managing over £800bn boycotted Deliveroo's IPO citing worker rights concerns. Aberdeen Standard called rider conditions a 'red flag'. The IWGB union reported riders earning as little as £2/hour while Shu stood to net up to £530 million. Shares crashed 30% on opening day - the worst London debut in two decades. Riders went on strike during the IPO.