DoorDash Acquires Deliveroo, SevenRooms in Expansion Moves

DoorDash reported record first-quarter revenue of $3.03 billion, up 21% year-over-year, but its shares dropped about 8% after missing Wall Street estimates. The company posted a profit of $193 million and exceeded earnings per share expectations. DoorDash announced it will acquire UK-based Deliveroo for around £2.9 billion ($3.9 billion) in cash, offering a 29% premium over previous share prices, and also plans to acquire New York's SevenRooms for $1.2 billion. The Deliveroo acquisition, which will expand DoorDash’s global reach to over 40 countries and about 50 million monthly active users, faces uncertainty as Amazon, a key Deliveroo shareholder, has not yet indicated its position on the deal. These acquisitions reflect DoorDash's efforts to grow internationally and diversify its services amid strong demand for online food and grocery delivery. The deals highlight continued consolidation and expansion trends in the food delivery and hospitality technology sectors.