Deliveroo founder Will Shu to step down after DoorDash takeover

Deliveroo founder Will Shu will step down as chief executive after the company agrees to be acquired by DoorDash in a deal valued at about £2.9 billion. Shu, who set up the London-based food-delivery service in 2013, plans to quit when the takeover is completed early next month. He is expected to receive a windfall of £178 million from his 6.6 percent stake, while staff who own about 36 million shares will share an estimated £65 million pot. The deal price of 180 pence per share is well below Deliveroo's London listing price of 390p in 2021, when the company was valued at about £7.6 billion. The stock fell by more than a quarter on its debut, earning it the nickname “Floperoo.”

Shu announced the plan to leave on Thursday, saying: “Taking Deliveroo from being an idea to what it is today has been amazing. We are delivering on our mission to transform the way people shop and eat, but after 13 years I want to contemplate my next challenge. I’m super proud of everything we have achieved. We pioneered and then redefined a new category.” Deliveroo’s non-executive directors, including Cafe Rouge founder Karen Jones and Flutter boss Peter Jackson, will also step down once the takeover is complete. A court hearing to confirm the takeover is scheduled for 30 September, with the deal expected to close on 2 October. Deliveroo chairman Claudia Arney, a former director of The Premier League who is also standing down, said: “Will is an incredible innovator and has brought a unique mix of passion, vision and commitment to the creation and growth of Deliveroo. He has created a British success story that has had a hugely positive impact on the way we eat and shop, provided a new form of work for tens of thousands of people and helped thousands of restaurants and other merchants grow their businesses - both here and around the world. On behalf of the board, I want to thank Will for his remarkable contribution.”

Deliveroo operates in nine countries and works with more than 130,000 riders across the world. It booked sales of around £2 billion in 2024. The deal underscores DoorDash’s push to expand its international footprint, a move that comes as the U.S. rival seeks to build scale in a competitive, high-growth market dominated by digital platforms. Shu’s departure, while significant for Deliveroo’s leadership, marks a predictable exit after the company’s public-market journey and its subsequent sale to a strategic buyer. The transition will see the board steer the business through integration with DoorDash, while the founder moves on to his next venture.

The takeover at Deliveroo follows years of volatility for the company’s stock and strategy. After going public in 2021 at a valuation of about £7.6 billion, Deliveroo faced a challenging period of profitability and market expectations. The 180p per share offer from DoorDash represents a substantial premium to early investors and an exit for staff and founders who helped build a global platform for food delivery. Industry observers note that DoorDash’s acquisition could accelerate Deliveroo’s expansion into new markets and broaden its merchant relationships, though integration risks and potential antitrust considerations remain in focus for regulators and investors alike. As part of the agreement, the leadership changes are expected to occur when the closing conditions are satisfied, with Shu stepping aside as the enterprise continues its integration under new ownership.

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In the broader market context, Deliveroo’s sale to DoorDash reflects ongoing consolidation in the on-demand food delivery arena, where scale and network effects are critical. DoorDash has pursued an aggressive international expansion strategy in recent years, seeking combination opportunities that can improve delivery times, broaden merchant networks, and enhance profitability across regions. Deliveroo’s nine-country footprint, optimized for urban delivery, will be integrated into DoorDash’s global platform, with expectations that the combined entity will leverage shared technology, logistics capabilities, and marketing reach. Analysts will watch closely how DoorDash manages the transition for riders and restaurant partners, and how regulatory processes in the U.K. and other jurisdictions influence the pace and terms of the integration.

Deliveroo’s leadership changes come at a time when the company’s growth model has relied on expanding rider networks and merchant partnerships to sustain growth in competitive markets. Shu’s exit, while symbolically significant, is framed by a broader transition under new ownership designed to optimize operations and deliver value to shareholders, employees, and customers alike. The timeline set for the takeover—court confirmation on 30 September and expected completion on 2 October—will determine how quickly Deliveroo’s leadership is reconstituted under DoorDash while preserving continuity for its workforce and partner restaurants.

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As the deal proceeds, stakeholders will monitor the implications for staff equity plans and the potential for future stock-market activity tied to the broader DoorDash platform. Deliveroo’s path under DoorDash remains to be fully realized, but the immediate effect is a turning page for a British-born startup that rose rapidly to become a global reference point in on-demand delivery. The leadership transition, the terms of the deal, and the integration plan will shape Deliveroo’s trajectory in the coming years as it aligns with a larger U.S.-based powerhouse in the same sector.

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