Deliveroo’s founder and chief executive Will Shu has said his message to shareholders and the wider investor community is “it is on me to prove the long-term value of this company”.

Commenting on the delivery aggregator’s recent IPO, which has been labelled a disaster, Shu said he would not “finger point” over the listings flop, which has seen stock down around a third from its 390p float price.

Shu also confirmed that Deliveroo was lobbying for a major change to employment law so that it can provide pension contributions and holiday pay to freelance riders without them having to sign up as employees, the paper reported. He said he was seeking to preserve the flexibility of self-employed but with improved conditions.

“We’ve been talking to various people since 2017 [on] how we offer more security in the context of work that is flexible. That is where I want this to get to… ideally with a legislative change,” he said, in a report in The Telegraph. 

The business has come under fire over the its employment model with investment funds reportedly shunning the company’s IPO due to concerns. Protests were also staged by Deliveroo workers on the day of its London Stock Exchange launch.

Deliveroo reported yesterday (15 April), that first quarter orders were up 114% year-on-year, to 71m, but they added that it was “difficult to say” how much of this growth was driven by lockdown restrictions and the closure of dine-in spaces.