No he bloody won’t

How a food-obsessed banker became one of Britain’s richest tech chiefs
Will Shu, the 41-year-old founder of Deliveroo, is set to net £540m when his company goes public

Apparently financial literacy has abandoned the Telegraph.

Shu has about a 7% stake. Shu is not going to sell his entire stake at the IPO. Shu’s stake may well be worth £540 million when the IPO happens or has happened. But he’s not going to net that amount.

It’s like the story a couple of days back claiming that the folks running an engineering business are to “make” by selling it. No, they’ll crystalise the value perhaps but they made it over the 50 years.

6 thoughts on “No he bloody won’t”

  1. Tim today:
    Shu’s stake may well be worth £540 million when the IPO happens or has happened. But he’s not going to net that amount.

    Tim three days ago:
    Today he owns 40% of something worth £100 million. He’s a millionaire.
    https://www.timworstall.com/2021/03/this-always-annoys-me/

    If you insist someone is a millionaire because they own something valued in the millions then it’s pendantry to complain about a journalist saying Shu will “net a pay day of around £540m” upon owning assets worth that much.

  2. I don’t know if this is still the case, but I heard Will Shu speak at a conference a couple of years ago. At that time, he was still regularly going out on the bike & making deliveries. I guess on average, Deliveroo couriers are pretty well paid then!

  3. it seems you are missing the point, twice

    That indicates you missed my point. But no sweat; we can’t all be focussed on the same issues.

    .

    I guess on average, Deliveroo couriers are pretty well paid then!

    I knew a young chap whose brother worked out a brilliant “scheme” using the Deliveroo incentives system. If a rider persuades someone to join as a courier, the rider gets a payment if the new guy signs up quoting the rider’s number. So said brother designed a Google ad that looked like an official link to the Deliveroo online application form. It forwarded the clicker to the genuine page – but automatically appended his rider number. Every time someone searched for how to join, chances are his ad would catch them and he’d get the incentive payment. It was very successful, many tens of thousands, and went on for well over a year. He did a few rides a week just to keep his number current.

    He never knew for sure if they figured out what he was doing, he merely got a cease and desist over copyright infringement. That was the only technically illegal aspect. He paid for a proper university education plus living well during it. Also did well concurrently with crypto. Clever little fucker.

Leave a Reply

Your email address will not be published. Required fields are marked *