DoorDash Sets Eyes on Deliveroo with $3.6 Billion Buyout Bid

Published 4 hours agoDASH

DoorDash Sets Eyes on Deliveroo with $3.6 Billion Buyout Bid

DoorDash has announced a proposal to acquire Deliveroo for $3.6 billion, marking a significant move to extend its international reach. The all-cash offer stands at 180 pence per share, approximately 22.8% above Deliveroo's last closing price of 146.6 pence. This proposition has already stirred market excitement, with Deliveroo's share price jumping over 16% to 170.5 pence following the news, as reported by Reuters.

The acquisition bid, part of DoorDash's strategy to expand beyond its current markets in the U.S., Canada, New Zealand, and Australia, would enable the company to enter ten new markets, including the U.K., Italy, and France. Deliveroo, significant for achieving its first annual profit last year, appears to be an attractive target for DoorDash's global expansion plans. AP News highlighted that Deliveroo has allowed DoorDash to conduct due diligence, with a completion deadline for the offer set for May 23.

Reports suggest the deal's regulatory hurdles might be minimal, potentially smoothing DoorDash's pathway into new territories. The proposed acquisition not only represents a strategic growth opportunity for DoorDash but also underscores a broader trend of consolidation in the food delivery sector.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Sony Weighs Spinoff of Semiconductor Unit

Sony Weighs Spinoff of Semiconductor Unit

10 minutes agoSONY

Sony is reportedly contemplating a spinoff of its semiconductor division, Sony Semiconductor Solutions. Sources suggest that the company may list this unit on the stock market as early as this year, marking a significant shift in Sony's business strategy. In the potential spinoff scenario, Sony might retain a minority stake in the semiconductor unit. However, a Sony spokesperson addressed these reports by describing them as speculative. Reuters reported that the company stated, "The article is based on speculation and there are no such specific plans." This consideration aligns with Sony's recent strategic focus, which has been geared towards enhancing its position in the entertainment industry while also moving to spin off its financial division. This strategy reflects Sony's broader aim to prioritize and bolster its core areas of growth.

Amazon Launches First Kuiper Satellites, Entering Starlink's Orbit

Amazon Launches First Kuiper Satellites, Entering Starlink's Orbit

40 minutes agoAMZN

Amazon has taken a significant step in its ambitious Project Kuiper, launching its first 27 internet satellites. The launch, executed from Cape Canaveral, Florida, on April 28, 2025, is the beginning of a $10 billion initiative aimed at developing a vast global broadband network. This marks Amazon's entry into the satellite internet sector, a field currently dominated by SpaceX's Starlink. Project Kuiper plans to deploy a total of 3,236 satellites to assure global broadband access, particularly focusing on remote and rural locations where internet service is scarce. According to regulatory requirements, Amazon needs to have at least half of its satellite constellation—1,618 satellites—deployed by mid-2026. The company aims to introduce its service later in 2025 with consumer terminals priced at under $400, Reuters reported. This launch asserts Amazon’s competitive stance against Starlink, which already boasts over 8,000 satellites in orbit and serves more than 5 million users worldwide. Beyond just providing broadband, Amazon’s strategy for Project Kuiper includes leveraging its cloud computing prowess and consumer electronics background to support the satellite network. Additionally, the satellites incorporate a mirror coating to reduce light pollution, meeting environmental concerns. Amazon has planned numerous future launches with partners like United Launch Alliance and Blue Origin to continue building its satellite constellation, as noted by AP News.

Amkor Technology Beats EPS Estimates Despite Revenue Miss

Amkor Technology Beats EPS Estimates Despite Revenue Miss

1 hours agoAMKR

Amkor Technology's Q1 2025 earnings report showed a better-than-expected performance on the earnings front. The company reported an earnings per share (EPS) of $0.43, beating analyst expectations of $0.38. However, it fell short of revenue projections with $1.63 billion, compared to the anticipated $1.66 billion, as noted by Investing.com. Despite the dip in revenue, this $0.43 EPS only slightly declined by 1.37% from the previous year's $0.44 EPS for the same quarter, according to CoinCodex. This small earnings downturn is in contrast to the favorable stock performance following the earnings release, which saw Amkor's shares rise, hinting at investor confidence. In the face of mixed financial outcomes, Amkor Technology continues to draw investor support. The positive movement in stock value underscores a prevailing optimism about the company's ability to surpass profit forecasts, even as it navigates through a challenging revenue landscape.

Alibaba Unveils Advanced AI Model Qwen3 with Broad Capabilities

Alibaba Unveils Advanced AI Model Qwen3 with Broad Capabilities

1 hours agoBABA

Alibaba has introduced its latest artificial intelligence model, Qwen3, which marks a noteworthy leap in the AI domain. This model is equipped with the ability to handle comprehensive multimodal processing, integrating text, images, audio, and video, which enables it to function across a diverse array of media formats. This broad capability points to significant potential applications, such as creating AI assistants capable of supporting visually impaired individuals through real-time audio descriptions. The Qwen3 model is designed to be highly efficient, optimized for use on mobile devices and laptops, which facilitates real-time AI operations without demanding substantial computational resources. Furthermore, the decision to make Qwen3 open-source on platforms like Hugging Face and GitHub encourages adoption and innovation within the AI community. This development from Alibaba reflects its strategic commitment to progressing in AI technologies and vying with other major industry players. According to data, Alibaba's stock (NYSE: BABA) has seen minor fluctuations, recently pricing at 118.37 USD, down 1.94 USD from the previous close. Despite a slight dip, the unveiling of Qwen3 underscores Alibaba's continued focus on remaining at the forefront of AI technology advancements.