Deliveroo founder set for £172m payout following takeover offer

Deliveroo co-founder and chief executive Will Shu is in line for a £172m payout if the firm’s board approves a £2.7bn takeover from US rival DoorDash.

The UK-listed rapid delivery giant confirmed on Friday (25 April) that it had received an indicative takeover proposal for 180p a share from DoorDash at the start of the month.

Deliveroo said that should a firm offer be made, it would be “minded to recommend” the proposal to its shareholders.

DoorDash has until 23 May to submit a firm offer or walk away.

Deliveroo suspended its £100m Buyback programme on Friday while it waits on a response from its US rival.

The platform said that there was “no certainty that any firm offer for Deliveroo” would be made and advised shareholders to take no action.

If the initial offer were to be accepted, Shu would be in line to receive £172m based on his 5.9% shareholding in the company.

Deliveroo launched its grocery service in 2020, partnering with the likes of Sainsbury’s, Waitrose, Morrisons and Co-op. It has since teamed up with specialist retailers including Boots, B&Q, Wilko and The Perfume Shop to offer a rapid delivery service.

Earlier this month, the platform unveiled a new white label solution, named Deliveroo Express, designed for grocers and retailers in the UK and Ireland, enabling them to offer rapid, on-demand delivery through their own online channels.

The service marks a major expansion of the delivery giant’s grocery offering, which now accounts for 16% of the company’s gross transaction value (GTV), following strong double-digit growth.

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