Deliveroo has published data that shows the company’s financial accounts for 2018. The findings show that sales rose by £200 million, as Deliveroo approached global revenue of almost £500 million in just its sixth year of delivering food to customers.
Global sales rose to £476 million for the year to 31 December 2018, an increase of 72% (2017: £277 million). Gross profit jumped 42% to £91 million (2017: £64 million) following increased order volumes, an enhanced customer offering and continued growth in more mature markets.
The company has continued to invest heavily in its service as it looks to expand its operations and deliver even more amazing meals from great local restaurants.
2018 saw Deliveroo launch in two new markets – Taiwan in September, followed by Kuwait in November. The company also looked to deepen its offering within existing markets, opening in more than 250 new towns and cities.
Key investments in 2018 included the launch of Marketplace+, which enables restaurants with their own delivery fleet to access customers through Deliveroo. Investing £10 million in free insurance for riders to become the first company in the on-demand economy to offer this to riders to keep them safe whilst out on the road. Creating a ‘Rooversity’ which gives riders access to hundreds of online courses free of charge to help them with their educational and professional development.
Deliveroo’s track record of substantial growth was recognised in 2018, becoming the first company to top Deloitte’s UK Fast 50 two years in a row. Deliveroo also secured top spot in the Financial Times 1000 list of Europe’s fastest growing companies.
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The strength of Deliveroo’s growth and business model is reflected in the $575 million investment in the company in May 2019, led by Amazon, taking the total raised by Deliveroo to over $1.5 billion.
Deliveroo’s commitment to growth and investment has continued in 2019, with plans to launch in another 50 towns and cities in the UK, extending its reach to half the population. The company works with 80,000 restaurants and 60,000 riders globally.
Deliveroo’s growth has helped restaurants increase their revenue at a time when the high street is facing a number of challenges. Independent analysis by Capital Economics reveals that Deliveroo enabled restaurant partners in the UK to boost their sales by £1 billion in 2018, including £320 million for independent restaurants.
The study also found that the company has helped create 25,000 jobs in the restaurant sector since it launched in the UK in 2013. If Deliveroo were to continue adding restaurants to its platform at the current rate, the food delivery company’s operations would help create almost 70,000 restaurant jobs in the UK in 2020.
Will Shu, Deliveroo co-founder and CEO said: “We’re focused on our mission of becoming the definitive food company, and we’ve continued to invest heavily in expansion, technology and new products to meet this ambition.
“Deliveroo has come a long way in the past six years, but this is just the beginning. I can’t wait to work with new great local restaurants to deliver meals to millions of more customers around the globe.”