Will Shu will step down as CEO of Deliveroo once the food delivery company’s acquisition by DoorDash closes.

Deliveroo, a UK-based online food delivery firm founded in 2013, is being acquired by US competitor DoorDash for £2.9 billion (US$4 billion).

The deal is expected to close on October 2, following a court hearing scheduled for September 30.

Shu co-founded Deliveroo with Greg Orlowski and has led the company for over a decade.

Deliveroo’s public market journey included a 30% drop in share price on its 2021 IPO, which impacted London’s reputation for major tech listings.

The acquisition will mark the end of Deliveroo’s time as a public company.

🔗 Source: CNBC

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