US-based food delivery group Doordash approached Deliveroo to hold talks on a takeover last month.
Reuters reports the San Francisco-based business flagged an interest in a takeover, but talks ended after disagreement on Deliveroo’s valuation.
Anonymous sources further told Reuters that there are no talks ongoing, while Doordash and Deliveroo both declined to comment.
Amazon is currently Deliveroo’s largest shareholder, with a 13.23% stake, followed by DST Global at 7.54%. Deliveroo CEO Will Shu has a 6.46% holding, according to Reuters.
Shu and childhood friend Greg Orlowski founded Deliveroo in 2013, with an IPO in 2021. The London-listed firm is currently valued at £2.1bn.
Doordash reportedly considered buying Deliveroo in 2022, according to a report in the Sunday Times. Earlier this year, Doordash CEO Tony Xu said the group is looking to diversify outside its core market of the US in an interview with the Financial Times.
