DELIVEROO FOUNDER SET FOR £170M PAYDAY FROM SALE TO U.S. RIVAL – If DoorDash’s takeover succeeds, Deliveroo would be valued at £2.7 billion
Deliveroo’s founder, Will Shu, could secure a £170 million windfall if a takeover by US food delivery giant DoorDash goes ahead.
Deliveroo confirmed that San Francisco-based DoorDash had made a £2.7 billion approach to acquire the company. The board indicated it would be “minded to recommend” the offer if a firm bid of 180p per share is submitted.
The takeover would mark the end of Deliveroo’s run on the London Stock Exchange, where its shares have plummeted by 60% from their original listing price.
Despite Deliveroo’s rocky public performance, Shu—who owns a 6.4% stake—is set to make a substantial profit. Shu founded Deliveroo in 2013, quickly rising to prominence as one of Britain’s leading tech entrepreneurs.
Initially privately held, Deliveroo attracted major investors, including Amazon, which secured a significant minority stake in 2019. Although the investment faced competition authority scrutiny, it was eventually cleared in 2020. A full Amazon takeover had been anticipated but never materialized.
Instead, Deliveroo pursued a public listing in 2021 with a £7.6 billion valuation. However, its shares fell sharply, losing more than a quarter of their value on the first day of trading—earning the IPO a reputation as one of the worst in London’s history. As of last Friday, Deliveroo’s shares closed at 147p, well below their 390p debut price.
If DoorDash’s takeover succeeds, Deliveroo would be valued at £2.7 billion, making Shu’s stake worth approximately £172.4 million.
The acquisition would also deal another blow to London’s stock market, as another major British firm is set to fall into US ownership. Deliveroo said it had “decided to engage in discussions with DoorDash regarding the possible offer.” Under UK takeover rules, DoorDash has until May 23 to make a firm bid or withdraw.
