DoorDash, UK's Deliveroo serve up $3.9 billion deal to take on rivals

Quick Summary:

U.S.meal delivery firm DoorDash will buy Deliveroo in a deal valuing the British rival at about 2.9 billion pounds ($3.85 billion), the companies said, banking on a bigger reach and local expertise to take on competition.

Deliveroo's shares have struggled since their debut when they were sold at 390 pence in 2021, a time when meal delivery services were boosted by the pandemic.

Deliveroo said it has received undertakings of support from investors holding about 15.4 per cent of shares, including from co-founder and chief executive Will Shu, and investment firms Greenoaks and DST Global.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIrelandJapan

Topics: Serve Last Delivery Doordash 2021 Cent Offer Deliveroo Shares Deal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-06 @ 19:36:40 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 597 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 28438151

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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