Deliveroo Founder: From £0 to £5 Billion: Will Shu | E88 | Summary and Q&A

TL;DR

Delivery, one of Europe's fastest-growing technology companies, has humble origins and a CEO who defies the typical stereotype of an entrepreneur.

Key Insights

• 🚀 Delivery: The founder realized the need for a better food delivery option in London and came up with the idea for Delivery.
• 💡 Entrepreneurs: The founder doesn't fit the typical stereotype of an entrepreneur, showing that success can be achieved with humility and hard work.
• 💸 Financial struggles: The company faced financial challenges, including a 14-month period without funding and the loss of a major investment opportunity.
• 🌎 Rapid growth: Delivery experienced significant growth, becoming one of the fastest-growing technology companies in Europe.
• 👥 Layoffs: The founder had to make the difficult decision to lay off a significant number of employees due to financial constraints caused by the pandemic.
• 🔒 Adversity: The company faced unexpected challenges, such as the failure of a major investment deal and the impact of COVID-19 on its restaurant partners and user base.
• 💪 Resilience: Despite the challenges, the founder remained committed to building the business and overcoming obstacles.
• 😰 Mental health: The founder experienced moments of anxiety and uncertainty throughout the entrepreneurial journey but remained determined to succeed.

Transcript

i just knew this city needed something better than the classic takeaways that's how i got the idea for delivery i definitely know what it was like to walk in their shoes i did that job for a long time i did you know five deliveries last night and that's why you know treating riders with respect and making sure their voices are heard is so important... Read More

Questions & Answers

Q: What were some of the challenges Will faced in the early days of starting Delivery?

In the early days, Will had limited funds and had to sign up restaurants and riders manually, facing setbacks and difficult decisions along the way.

Summary & Key Takeaways

• Delivery started as an idea in London and quickly became a multi-billion dollar company.

• The founder, Will, is not the typical entrepreneur and focuses on solving a problem rather than starting a business.

• The early days were challenging, with limited funds and the need to sign up restaurants and riders manually.

• Facing setbacks, including a cancelled funding round and the impact of COVID-19, led to difficult decisions and layoffs.