DoorDash is said to have held takeover talks with Deliveroo last year

Mar. 06, 2022 9:04 AM ETDoorDash, Inc. (DASH), DROOFBy: Joshua Fineman, SA News Editor8 Comments

Deliveroo Shares Slump After Debut On London Stock Exchange

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DoorDash (NYSE:DASH) is said to have held talks about a potential takeover of Deliveroo (OTCPK:DROOF) last summer, though a deal never came to fruition, according to a Sunday Times report.

A combination would have created a food-delivery firm with 4 billion pounds ($5.2B) in sales, according to the paper. DoorDash has a market cap of $31B.

DoorDash (DASH) instead in November agreed to acquire Helsinki-based food-delivery startup Wolt in an all-stock deal worth approximately $8.1B

DoorDash (DASH) reportedly held talks to purchase Instacart (ICART) last summer that may have valued the grocery delivery company at $40B to $50B, The Information reported in August.

Deliveroo (OTCPK:DROOF) went public last March in London and its share have tumbled more than 70% sine then. DoorDash went public in December 2020 at a price of $102/share and its stock has dropped 12% since the IPO.

DoorDash (DASH) last month launched express grocery delivery in partnership with Albertsons Companies (NYSE:ACI) to deliver fresh groceries in under 30 minutes, .

DoorDash last week said it agreed to acquire hospitality technology startup Bbot.

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