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Daily Mail
06-05-2025
- Business
- Daily Mail
Deliveroo co-founder in line for bumper £172m payday after takeover bid by US rival DoorDash - but will the notoriously private millionaire finally stop delivering meals himself?
The co-founder of Deliveroo is set to be paid an eye-watering £172million windfall following a takeover from US rival DoorDash. Will Shu founded the company alongside Greg Orlowski in 2013 after becoming dismayed about the lack of late-night food delivery options in London. The entrepreneur - who moved to the UK to work for JP Morgan - struck upon the idea after being forced to eat Tesco sandwiches and salads during late shifts working as a banker in Canary Wharf. So keen was Shu to get the business up and running, he became its first ever driver and still makes the occasional delivery even now. Shu has put his all into building the company from the ground up and it now operates in nine countries and works with more than 130,000 riders across the world. Deliveroo made sales of around £2 billion in 2024, with its shares having risen 2.2 per cent to 175.9p on Tuesday morning. Shu is said to be in line for a £172million windfall from his 6.5% stake in the company, after it was bought for 180p a share in cash from Francisco-based DoorDash. There are now questions as to whether Shu, whose friends claim to be 'obsessed' with the business, will stay on in his role as CEO. Shu today remained tight lipped about his future after telling reporters 'that's not a discussion for today.' But, according to Sky News, he is already contemplating stepping back as CEO as soon as Autumn this year. Deliveroo's chief business officer Carlo Mocci is reportedly one of the favourites to replace Shu. But sources told Sky no decisions about a replacement had yet been made, with another adding that a public announcement about any leadership changes would not be made for some time. Other scenarios under consideration by the company could also see Shu stay in his role for longer, Sky added. In a revealing interview on The Diary of A CEO in 2021, Shu acknowledged his business and love for food come above all else. Shu, described as 'shy', has also confessed to not having 'room for other things' when he was asked about romantic relationships He said: 'I think the brain is capable of filling itself up with certain things and there's just not room for other things. 'That's how I think about it. I'm a very obsessive person.' That determination to ensure all is working well in his business has led to Shu wanting to experience the business just as his employees do. In an interview with in March 2024, Shu said: 'I still complete deliveries today, which gives me the truest experience of how our business works. 'It lets me hear from our riders, restaurant, grocery and retail partners, I can test our latest tech developments myself and interact with our customers directly.' On one occasion he even delivered pizza to a former investment fund colleague who he hadn't talked to in three years. 'He didn't understand that I started the company. He just thought I was a delivery guy,' he told Business Insider. In a bid to stay ahead of the game, Shu has also completed deliveries for rival Just Eat so he could have an inside track on the competition. Shu's net worth was valued at £165.5million in the Evening Standard's Tech Rich List in February 2024. Childhood friends Shu - who was formerly a banker - and Greg Orlowski teamed up to start the business back in 2013 by hand-delivering pizzas to friends. Since then the company has grown exponentially, operating in ten markets with 130,000 delivery riders and 180,000 restaurants on its platform. The food delivery group was formerly branded 'Flopperoo' after its disastrous stock market float in 2021 – but has seen a revival in fortunes in recent years. It received a boost in business during the pandemic when restaurants were forced to close and far more customers ordered meals online. But Deliveroo has had a tough time since as it invested heavily in marketing, technology and head count. Sales also slowed when consumers started to make their way back to pubs and restaurants after the lockdowns came to an end.
Entrepreneur
06-05-2025
- Business
- Entrepreneur
DoorDash Snaps Up Deliveroo for $3.85bn, Expanding Its European Empire
London-based food delivery company Deliveroo is acquired by US meal delivery firm DoorDash at the valuation of about US$3.85 billion. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. The acquisition will help DoorDash grow its market share in Europe, competing against Just Eat and Uber Eats, as it adds Deliveroo's largest market, Britain and Ireland to its roster, along with others. Deliveroo, which was founded in 2013 by Will Shu and Greg Orlowski, has distributed 36.5 million shares to its former and current staff, allowing them for a $87.49 million (£65.7 million) payout. Deliveroo currently employs about 4,000 people. She is reportedly in line for a $229 (£172 million) payout from his 6.4% shareholding in the business. Deliveroo was acquired at less than half the value at which it floated on the London Stock Exchange in 2021. San Francisco-based DoorDash is the biggest food delivery app in the US. Founded in 2013, it now has 23,700 employees, more than 1 million riders who deliver food in 30 countries, and more than 42 million active users of its app.
Entrepreneur
06-05-2025
- Business
- Entrepreneur
Deliveroo Sold for Half the Value of Original Stock Market Float
London-based food delivery company Deliveroo is acquired by US meal delivery firm DoorDash at the valuation of about US$3.85 billion. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. London-based food delivery company Deliveroo is acquired by US meal delivery firm DoorDash at the valuation of about US$3.85 billion. The acquisition will help DoorDash grow its market share in Europe, competing against Just Eat and Uber Eats, as it adds Deliveroo's largest market, Britain and Ireland to its roster, along with others. Deliveroo, which was founded in 2013 by Will Shu and Greg Orlowski, has distributed 36.5 million shares to its former and current staff, allowing them for a $87.49 million (£65.7 million) payout. Deliveroo currently employs about 4,000 people. Shu is reportedly in line for a $229 (£172 million) payout from his 6.4% shareholding in the business. Deliveroo was acquired at less than half the value at which it floated on the London Stock Exchange in 2021. San Francisco-based DoorDash is the biggest food delivery app in the US. Founded in 2013, it now has 23,700 employees, more than 1 million riders who deliver food in 30 countries, and more than 42 million active users of its app.
The Guardian
13-03-2025
- Business
- The Guardian
Deliveroo makes annual profit for first time
Deliveroo has made an annual profit for the first time, after a bumpy few years since a disastrous stock market listing that earned the takeaway delivery company the nickname 'flopperoo'. The 12-year-old company, a member of the FTSE 250 index of mid-sized companies, made a profit of £3m in 2024, compared with a loss of £32m in 2023, it said in a statement on Thursday. The profit came alongside its first year of cash generation, after years of losing hundreds of millions of pounds as the company expanded from a startup to becoming a rare technology company float on the London Stock Exchange in 2021. Deliveroo said the annual profit came despite an 'uncertain consumer environment', as it pushed beyond takeaways to grocery deliveries, which accounted for 16% of sales in the second half of the year. Its share price fell 8% after analysts flagged 'soft' expectations for future profits. The firm also added companies such as Ann Summers, B&Q, The Perfume Shop and Not On The High Street to its shopping ranges as it continued to expand its range beyond food. However, it may be years before investors receive a return. Deliveroo has so far raised about £1bn from venture capital investors, plus another £1bn in its initial public offering. The company also faces stiff competition, including in the UK from Uber Eats and Just Eat Takeaway, whose new owner, the well-funded South African tech investor Prosus, wants to expand. The total value of orders through Deliveroo's app and website rose 5% to £7.4bn, giving it revenues of £2.1bn. The company's main markets are Britain and Ireland, with a presence in another eight countries amid still tough competition. Will Shu founded the company in 2013 with his childhood friend Greg Orlowski, after working long hours as an investment banker in London and despairing at the lack of choice for evening food deliveries to the office. Orlowski quit in 2016. Deliveroo attracted hundreds of millions of pounds of venture capital investment in the years that followed, with investors attracted by the idea of a technology platform that could quickly expand. Deliveroo's shares floated in 2021 at a market value of £7.6bn, when the valuation of food delivery companies had soared because of coronavirus pandemic lockdowns. The company initially suffered a difficult float that experienced an immediate slump of 26% in its share price, the worst debut in London's history. The stock recovered to peak at £3.80 later in 2021 as the pandemic fuelled a boom in delivery company shares, but fell to less than 80p in August 2022 as the boom eased. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Deliveroo also faced significant scrutiny over the conditions for the gig workers who made deliveries. In 2023 it successfully argued that its workers were self-employed, a system that allows it to avoid certain costs of full employment. In recent years, Deliveroo has sought to become profitable as investor patience wore thin. That helped to raise its share price to more than £1.60 in September, although it is down 12% this year. The push towards profitability has also led to it leaving markets where it was struggling, including an announcement this week that it would leave Hong Kong, after being muscled out by a Chinese competitor. Shu said: 'The robust results we've announced today, with our first full-year profit and positive free cashflow as well as gross transaction volume growth across our verticals, demonstrate that our strategy is working.' Susannah Streeter, the head of money and markets at Hargreaves Lansdown, said: 'It's been a long hard slog but Deliveroo has finally climbed the tough summit of reaching annual profitability … Growth is already highly sluggish in the UK, and there are concerns that the harsh global trade winds blowing could knock recovery off course.'
Zawya
10-03-2025
- Business
- Zawya
Deliveroo and Humantra bring UAE's first-ever drinkable billboard to City Walk this Ramadan
Deliveroo and Humantra unveiled the UAE's first-ever drinkable billboard at City Walk, Dubai to celebrate the launch of Humantra's Ramadan limited-edition Apricot-flavour electrolyte, available exclusively on Deliveroo until the end of March. At first glance, the billboard appeared ordinary, displaying the message 'Just Another Billboard.' But as the sun sets, a graffiti artist spray paints a question mark to the end, turning the simple statement into a thought-provoking question. The billboard then revealed a dispenser tap, turning it into the country's first-ever drinkable billboard - allowing passersby to break their fast with Humantra's electrolyte drink. This unique activation gave a whole new meaning to hydration during Ramadan, encouraging the community to rethink how they replenish after fasting. Visitors could sample Humantra's limited-edition Apricot-flavour electrolyte sachet, served in a generously sized cup, offering proper hydration after a day of fasting and keeping them refreshed for the evening ahead. Designed specifically for Ramadan, Humantra's sugar-free, plant-based sachets contain all six essential electrolytes, helping to replenish fluids, boost energy levels, and support overall wellbeing during fasting hours. Inspired by the flavours of the season, Humantra's apricot sachets are available in boxes of 20 sachets for AED 125, or as part of a curated Ramadan gift bundle including two boxes for AED 240. Their convenient packaging and ease of use make them the ultimate addition to Ramadan, supporting better sleep, improved mood, and sustained energy throughout the month. Through this unexpected and creative stunt, Deliveroo and Humantra not only introduced a new flavour but also transformed a simple billboard into a powerful call to prioritise hydration and wellbeing during Ramadan. About Deliveroo Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. Deliveroo works with approximately 181,000 best-loved restaurants and grocery partners, as well as around 135,000 riders to provide the best on-demand delivery experience in the world. Deliveroo is headquartered in London, with offices around the globe. Deliveroo operates across 10 markets, including Belgium, France, Hong Kong, Italy, Ireland, Qatar, Singapore, United Arab Emirates, Kuwait and the United Kingdom.
