Remember when Deliveroo was supposed to be Britain’s next tech titan? Floated with a mouth-watering £7.6bn price tag in 2021, it was sold as a “must-buy” by bankers, brokers and anyone with a fat bonus to chase.
Fast forward to 2025 – and it’s being flogged off to DoorDash for a pitiful £2.7bn.
That’s right: £5bn torched. Gone. Vamoosed.
From day one, the signs were flashing in neon. Deliveroo’s shares nosedived more than 25% on their first morning of trading.
Instead of owning up, the City spun excuses. “Teething problems,” they said. “Just early jitters.” Four years later, anyone who bought into that hype is sitting on a 60% loss.
‘It’s like being pick-pocketed and told to say thank you’
And now Deliveroo’s board has the nerve to call DoorDash’s offer “attractive” – a measly £1.80 per share when they floated at £3.90. It’s like being pick-pocketed and then being told to say thank you.
Where are the investment banks who shoved this IPO down everyone’s throats? Quiet as mice. They pocketed their fees and vanished, leaving everyday investors – pensioners, savers, dreamers – holding the bag.
Too little too late
Sure, Deliveroo finally made a profit last year. But it’s too little, too late. The truth is brutal: Deliveroo was always fighting a losing battle, squeezed between Uber Eats and Amazon.
This isn’t just a Deliveroo story. It’s a tale of greed, hype and a City that would rather spin fairy tales than face facts. Trust has been shattered. Again.
As Deliveroo slides into American hands, one thing’s for sure: British investors have been served a cold dish of betrayal.
And this time, no amount of PR spin can hide the mess.
