Doordash said on Tuesday that it has agreed to buy his British rival for around £ 2.9 billion (around $ 3.29 billion), because the American food delivery company is trying to extend to new markets.
Doordash will pay Deliveroo shareholders 180 pence per share, which represents a premium of 44% compared to the share price of the latter on 4 April, when the American company approached his acquisition box, the companies said.
The deal would give Doornash access to nine new markets in Europe, where Deliveroo is mainly active. The companies bet that their combined scale would also help them to compete better with rivals, such as just pick -up meals and eating Uber.
Doordash said it would work in 40 countries and operate a total of 50 million monthly active users as soon as the acquisition is closed.
Founded in 2013, Deliveroo became public in 2021, when the sector of groceries and food delivery drove high on post-terrible rugwind people still tried to stay at home, to work remotely, and so they ordered more than they would otherwise have done. Startups of food and groceries were founded in large numbers and put on piles of venture capital.
But as Covid fade faded and people returned to shopping personally and go out to restaurants and cafés, startups of food and groceries suddenly found difficulty to adapt to rapidly changing consumer behavior in a sudden busy space. It did not help that capital started to be scarce in 2022 as the interest rates rose and the company held investors to their checks as they sought more profitable investments.
Since the offer, the shares of Deliveroo had fallen more than 50% until April 4. In March, the company sold its Hong Kong company to delivery heroWith reference to intense competition. It also left Australia in 2022, where it was confronted with similar competitive pressure.
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Deliveroo reported turnover of approximately £ 2 billion and gross transaction value of £ 7.1 billion a year ending on December 2024.
