Deliveroo, a food delivery company based in London, has agreed to a $2.9 billion takeover by DoorDash, resulting in a £65 million payday for its employees. The deal values Deliveroo at 180p per share, below its initial public offering price. Founder Will Shu sees the union as the start of a transformative chapter with shared strategic visions. While Deliveroo thrived during the COVID-19 pandemic, its demand has decreased since lockdown restrictions were lifted. The firm reported a pre-tax profit of £12 million in 2024, alongside £2.1 billion in revenue.
Food delivery company Deliveroo has agreed a 2.9bn takeover by US rival DoorDash, marking a transformative chapter for both companies.
Shu, a former investment banker and Deliveroo's founder, emphasized the alignment of strategic vision and values between DoorDash and Deliveroo.
Deliveroo's takeover values it less than its original floating share price, illustrating shifts in the food delivery market since the pandemic.
The firm's growth peaked during the pandemic with 7 million active consumers monthly, but demand has declined post-lockdown.
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