Deliveroo CEO Will Shu said he saw the death of cooking as a long-term trend.
Will Shu, CEO and cofounder of British food delivery startup Deliveroo, has spoken publicly for the first time since Amazon led a $575 million investment into his company in May.interest in innovative delivery networksShu told an audience at a London event on Monday that he hadn't anticipated the huge amount of capital that would go into building a global food delivery company. Deliveroo has raised more than $1.5 billion to date.
, marking one of the biggest funding rounds for any European startup. Deliveroo doesn't have a presence in the US, but works similarly to Uber Eats or DoorDash. "In the UK, we cover 25% of the UK population, whereas [rival] Just Eat is at 95%. That's a really big difference," Shu said.According to UBS research sent to clients in May, Uber Eats commands a greater share of app downloads than Deliveroo in the UK.
"Certainly I did not anticipate the amount of capital that went into this space, nor did I anticipate the size of the market itself," Shu responded."It started as 'Hey, people in central London want better food delivered quickly' and [went] to 'This is a complete lifestyle shift for many people.'" Food delivery apps such as Meituan and Eleme, Shu added, had radically altered how people eat in Asia. That's certainly true in cities,"The number one example is China, when you look at Meituan and you see how them and Eleme have just changed, in five years, the way people consume food in totality. It's pretty crazy," Shu said.Shu also touched on turnover at a fast-growth company.
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