US meals supply app DoorDash gives to purchase UK rival Deliveroo for $3.6bn | Enterprise

DoorDash is providing to purchase UK-based rival Deliveroo for $3.6bn (£2.7bn), Deliveroo mentioned Friday.

Deliveroo mentioned that its board is at present in talks with DoorDash over the supply and {that a} agency supply has not been made, in keeping with assertion despatched to the Guardian. Ought to a agency supply of £1.80 ($2.40) a share be made, Deliveroo mentioned, “it might be minded to advocate such a suggestion to Deliveroo shareholders.

“There will be no certainty that any agency supply for Deliveroo will probably be made. At the moment, shareholders are suggested to take no motion in respect to the doable supply,” the corporate mentioned in a press release.

The corporate gave DoorDash till 23 Could to provide a agency supply, in keeping with Reuters.

DoorDash is at present the biggest meals supply app in america, with 42 million month-to-month energetic customers in 2024 and $10.7bn in income in 2024. The San Francisco-based firm was based in 2012 and has a presence in over 25 international locations.

In 2021, DoorDash acquired Finnish supply firm Wolt for €7bn, or what was $8.1bn on the time, in inventory.

Deliveroo, which is predicated in London, was based in 2013 and is the second largest meals supply app within the UK. The corporate mentioned that it averaged 7.1 million energetic customers in 2024 with £2.07bn in income.

Each DoorDash and Deliveroo have, lately, tried to develop their consumer base by moving into grocery deliveries and making non-food deliveries.

In an interview with Fortune in February, DoorDash CEO Tony Xu mentioned that the corporate’s presence appears like “a speck of mud”.

“We’re actually solely addressing a few issues with first-party supply and first-party ordering,” Xu mentioned. “If you consider how do you grow to be a digital powerhouse, you’re going to should do greater than that.”