LONDON: The board of directors of DoorDash Inc. has agreed on the terms of a recommended final cash offer to acquire entire issued and to be issued share capital of Deliveroo at the rate of 180 pence in cash for each Deliveroo share.
The acquisition values the entire issued and to be issued ordinary share capital of Deliveroo at approximately £2.9 billion on a fully diluted basis.
DoorDash has finalized the terms of its acquisition of Deliveroo, valuing the company at approximately £2.4 billion. While the financial terms are set, DoorDash reserves the right to adjust the consideration if a competing offer emerges. The acquisition will be implemented through a Court-sanctioned scheme.
The merger strengthens DoorDash’s position in global local commerce by combining its reach with Deliveroo’s established presence across nine countries. Together, the companies aim to enhance offerings for businesses, consumers, and couriers. Deliveroo’s expertise in urban markets complements DoorDash’s success across diverse locations. The Enlarged Group will operate in over 40 countries, serving around 50 million monthly active users.
DoorDash plans to leverage its proven operational strategies to enhance Deliveroo’s existing services, driving innovation and expansion while optimizing resource allocation for competitive advantage. The move underscores a long-term commitment to improving local commerce worldwide.
Commenting on the Acquisition, Tony Xu, CEO and Co-founder of DoorDash, said: “Our mission at DoorDash is to grow and empower local economies. We started the company in 2013 to help people like my mom – people running local businesses and creating the vast majority of jobs and economic activity in our communities. Our focus ever since has been on building the best products and services to enable these merchants to grow, connecting them with consumers in their neighbourhoods, and creating a local commerce platform that offers uniquely flexible earnings opportunities.
Coming together with teams that have similar visions and values accelerates our work to achieve that mission. Deliveroo is just such a team and one that I have long admired. Like DoorDash, Deliveroo is obsessively focused on their customers – consumers, merchants, and riders. They work day in and day out to improve their consumer value proposition, bring new services to local businesses, and offer flexibility and support to riders. These efforts and attention to detail from Will and the team have had a tremendous positive impact in the communities where Deliveroo operates.
I could not be more excited by the prospect of what DoorDash and Deliveroo will be able to accomplish together. We’ll 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 they need to thrive. 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.”