DoorDash has acquired British food delivery rival Deliveroo for £2.9bn ($3.9bn), concluding Deliveroo's challenging journey as a public company. The deal, supported unanimously by Deliveroo's board, offers a significant premium yet values the company at less than half its 2021 IPO valuation. DoorDash aims to boost its presence in Europe, where the competition is fierce. Both CEOs expressed excitement about merging their visions and expanding their services to over a billion people across 40 countries, showcasing a commitment to empowering local businesses.
DoorDash's acquisition of Deliveroo for £2.9bn marks a strategic move to expand its European presence, amidst a backdrop of Deliveroo's turbulent public listing.
Deliveroo's CEO highlighted the acquisition as a fusion of two teams with shared values, enhancing their capacity to serve over a billion people across 40 countries.
Despite the substantial premium offered, the acquisition price reflects a significant loss from Deliveroo's IPO valuation, highlighting the company's struggles post-public listing.
The merger adds depth to DoorDashâs European operations, where it aims to compete against established rivals like Uber Eats and Just Eat.
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