The News
US food delivery giant DoorDash bought its UK equivalent Deliveroo in a deal worth $3.9 billion.
The British company was founded in 2013 and has come to dominate the country’s fast-food delivery scene: It now operates in nine countries. But it never cracked the US, where DoorDash is the biggest player.
Europe’s tech unicorns often flee to the US: The continent’s success stories “pack their bags… to gain access to capital,” a 2022 report said.
The takeover is also a blow for the London Stock Exchange, which has seen firms worth hundreds of billions relist in New York in recent years, whether via takeovers or simply leaving.
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