{"id":667598,"date":"2025-05-07T16:50:22","date_gmt":"2025-05-07T13:50:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/doordash-buys-deliveroo-for-2-9b-less-than-half-its-ipo-price\/"},"modified":"2025-05-07T16:50:22","modified_gmt":"2025-05-07T13:50:22","slug":"doordash-buys-deliveroo-for-2-9b-less-than-half-its-ipo-price","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/doordash-buys-deliveroo-for-2-9b-less-than-half-its-ipo-price\/","title":{"rendered":"DoorDash buys Deliveroo for \u00a32.9B \u2014 less than half its IPO price"},"content":{"rendered":"
\n

US food delivery giant DoorDash has acquired British rival Deliveroo in a \u00a32.9bn ($3.9bn) deal, ending the UK business\u2019 rocky tenure as a public company.\u00a0<\/span><\/p>\n

The all-cash offer, priced at \u00a31.80 ($2.40) per share, represents a 77% premium over Deliveroo\u2019s recent trading price. <\/span>However, the acquisition price is less than half its 2021 IPO valuation of \u00a37.6bn.<\/span><\/p>\n

Deliveroo\u2019s board unanimously backed the deal. CEO and co-founder Will Shu, who owns 6.4% of the company, is set to pocket \u00a3172mn.\u00a0<\/span><\/p>\n

The merger will expand DoorDash\u2019s footprint in Europe, where it has lagged behind competitors like Uber Eats and Just Eat. Deliveroo\u2019s largest markets are the UK and Ireland, which account for around 60% of its total orders. In Europe, the company also has a presence in France, Belgium, and Italy.<\/span><\/p>\n

\n
\n
<\/div>\n

<\/p>\n

\n

The \ud83d\udc9c of EU tech<\/p>\n

The latest rumblings from the EU tech scene, a story from our wise ol’ founder Boris, and some questionable AI art. It’s free, every week, in your inbox. Sign up now!<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Tony Xu, CEO and co-founder of DoorDash, said the acquisition would bring together two teams that have \u201csimilar visions and values.\u201d\u00a0<\/span><\/p>\n

\u201cDeliveroo is just such a team and one that I have long admired,\u201d he said. \u201c[Together] we\u2019ll cover more than 40 countries with a combined population of more than 1 billion people, enabling us to provide more local businesses with the tools and technology<\/a> they need to thrive.\u201d<\/span><\/p>\n

Founded in London in 2013 by Shu and Greg Orlowski, Deliveroo quickly grew from a local startup into an international player. It pioneered \u201cdark kitchens\u201d with its Deliveroo Editions model and introduced a subscript<\/a>ion service, Deliveroo Plus, in 2017.\u00a0<\/span><\/p>\n

The company raised a total of \u00a31.2bn over several rounds. The largest was a \u00a3432mn ($575mn) round in 2019 led by Amazon. Two years later, Deliveroo listed on the London Stock Exchange at the height of the COVID pandemic delivery boom.\u00a0<\/span><\/p>\n

However, Deliveroo\u2019s shares <\/span>fell<\/span><\/a> 14% on debut, and the company struggled to meet investor expectations. By 2022, it exited markets like Australia, the Netherlands, and Germany to refocus on core operations.\u00a0<\/span><\/p>\n

Still, 2024 marked a turnaround, with Deliveroo posting its first annual pre-tax profit of \u00a312mn ($16mn). Despite that progress, DoorDash\u2019s bid proved compelling.\u00a0<\/span><\/p>\n

\u201c<\/span>I want to thank all of our incredibly skilled people, dedicated riders and merchants and our loyal consumers for helping us to build the successful business we have today,\u201d Shu said. \u201cI hope they share our excitement about what the future holds.\u201d<\/span><\/p>\n

Up to <\/span>830 jobs<\/span><\/a> could be cut post-acquisition, mostly in back-office roles, though both firms pledged to minimise redundancies.<\/span><\/p>\n

Deliveroo will retain its London HQ and existing GMB union agreements. DoorDash said the combined company will invest in tech and logistics to better compete globally.<\/span><\/p>\n

For Deliveroo, it\u2019s the end of independence. For DoorDash, it\u2019s a bold bet on Europe\u2019s fragmented but <\/span>still-growing<\/span><\/a> food delivery market.<\/span><\/p>\n<\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

US food delivery giant DoorDash has acquired British rival Deliveroo in a \u00a32.9bn ($3.9bn) deal, ending the UK business\u2019 rocky tenure as a public company.\u00a0 The all-cash offer, priced at \u00a31.80 ($2.40) per share, represents a 77% premium over Deliveroo\u2019s recent trading price. However, the acquisition price is less than half its 2021 IPO valuation…<\/p>\n","protected":false},"author":1,"featured_media":667599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280%2C640&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2018%2F04%2Fdeliveroo2.jpg&signature=51bb8b6bb05506eb43d141df9c533b35","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-667598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/667598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=667598"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/667598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/667599"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=667598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=667598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=667598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}