Deliveroo to be acquired by DoorDash in £2.9bn deal

DoorDash, which was founded in 2013, said the deal will help to accelerate its growth, as together, the rapid delivery firms cover more than 40 countries with a combined population of more than one billion people.

Deliveroo co-founder and CEO Will Shu described the acquisition as “the beginning of a transformative new chapter”.

“DoorDash and Deliveroo are like-minded organisations with a shared strategic vision and aligned values. Together, we will be even better positioned to serve consumers, merchants, riders and local communities”, he said.

Deliveroo chair Claudia Arney added that the deal will enable the UK-based company to “build on its significant strategic and operational progress, to strengthen its competitive advantage, to invest further in innovation and further enhance our proposition to stakeholders”.

DoorDash said that other benefits of the deal include the opportunity to allocate resources more effectively to “strengthen competitive advantage” and that its “best-in-class” capabilities applied to Deliveroo’s geographies and growth initiatives can create “significant value” for Deliveroo’s broader stakeholders.

DoorDash CEO and co-founder Tony Xu added: “The Enlarged Group will bring together DoorDash’s strong operating playbook with Deliveroo’s local expertise to invest in innovation and execution at an even higher level.

“Together, we will work to deliver the best experience for all of our stakeholders, to grow the GDP of cities around the world, and to build the leading global platform for local commerce.”