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A Deliveroo rider near Victoria station in London, England, on March 31, 2021.

Dan Kitwood | Getty Images

LONDON — British food delivery firm Deliveroo on Monday said it has agreed to a takeover offer from American rival DoorDash that values the company at £2.9 billion ($3.9 billion).

Deliveroo, which lets users order hot meals and groceries via an app, said its board agreed to an offer from DoorDash to acquire all issued and to be issued shares in the company for 180 pence a share.

That marks a 44% premium to Deliveroo’s closing price on April 4, the last business day prior to DoorDash’s initial offer letter.

Deliveroo shares jumped to a three-year high last week after the company confirmed it had received a takeover offer from DoorDash.

The transaction values Deliveroo at £2.9 billion on a fully diluted basis, the company said.

DoorDash said that the financial terms of the acquisition were final and would not be increased unless a third party steps in with a rival bid.

“I could not be more excited by the prospect of what DoorDash and Deliveroo will be able to accomplish together. We’ll cover more than 40 countries with a combined population of more than 1 billion people, enabling us to provide more local businesses with the tools and technology they need to thrive,” said Tony Xu, CEO and Co-founder of DoorDash.

International expansion

The acquisition deal marks an end to Deliveroo’s tumultuous ride as a public company.

Once viewed as a British tech darling, Deliveroo saw its shares tank 30% in 2021 in one of the worst trading debuts on the London Stock Exchange. Shares have continued to fall from that point and are down more than 50% from the firm’s £3.90 IPO price.

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Amazon’s Zoox robotaxi unit issues software recall after recent Las Vegas crash

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Amazon's Zoox robotaxi unit issues software recall after recent Las Vegas crash

A Zoox autonomous robotaxi in San Francisco, California, US, on Wednesday, Dec. 4, 2024. 

David Paul Morris | Bloomberg | Getty Images

Amazon‘s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday.

The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted to the National Highway Traffic Safety Administration.

Zoox submitted the recall after an April 8 incident in Las Vegas where an unoccupied Zoox robotaxi collided with a passenger vehicle, the NHTSA report states. There were no injuries in the crash and only minor damage occurred to both vehicles.

“After analysis and rigorous testing, Zoox identified the root cause,” the company said in a blog post. “We issued a software update that was implemented across all Zoox vehicles. All Zoox vehicles on the road today, including our purpose-built robotaxi and test fleet, have the updated software.”

Zoox paused all driverless vehicle operations while it reviewed the incident. It’s since resumed operations after rolling out the software update.

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Amazon acquired Zoox in 2020 for over $1 billion, announcing at the time that the deal would help bring the self-driving technology company’s “vision for autonomous ride-hailing to reality.” However, Amazon has fallen far behind Alphabet‘s Waymo, which has robotaxi services operating in multiple U.S. markets. Tesla has also announced plans to launch a robotaxi offering in Austin in June, though the company has missed many prior target dates for releasing its technology.

Zoox has been testing its robotaxis in Las Vegas, Nevada, and Foster City, California. Last month, Zoox began testing a small fleet of retrofitted vehicles in Los Angeles.

Last month, NHTSA closed a probe into two crashes involving Toyota Highlanders equipped with Zoox’s autonomous vehicle technology. The agency opened the probe last May after the vehicles braked suddenly and were rear-ended by motorcyclists, which led to minor injuries.

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Palantir falls 12% as analysts raise international growth concerns

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Palantir falls 12% as analysts raise international growth concerns

Palantir co-founder and CEO Alex Karp speaks during the Hill & Valley Forum at the US Capitol Visitor Center Auditorium in Washington, DC, on April 30, 2025.

Brendan Smialowski | Afp | Getty Images

Palantir shares dropped more than 10% Tuesday even after the data analytics and artificial intelligence software company showed ongoing revenue growth acceleration.

“Some investors may be disappointed with the modest full- year revenue guidance raise, the sequential margin decline, and the international commercial revenue year-over-year decline,” wrote William Blair analyst Louie DiPalma, adding that the company’s high software multiple makes it “vulnerable” to compression as revenue growth slows.

Despite the post-earnings move, Palantir topped revenue expectations and lifted its revenue guidance for the year. The Denver-based company posted adjusted earnings of 13 cents per share on $884 million in revenues. Analysts polled by LSEG had expected adjusted EPS of 13 cents and revenues of $863 million.

Palantir’s revenues rose 39% from $634.3 million in the year-ago quarter. Net income grew to about $214 million, or 8 cents per share, from roughly $105.5 million, or 4 cents per share, a year ago. The company also hiked its full-year revenue outlook to between $3.89 billion and $3.90 billion

CEO Alex Karp said that “Palantir is on fire” and he’s “very optimistic” about the current setup during the earnings call after the bell Monday.

“The reality of what’s going on is that this is an unvarnished cacophony — the combination of 20 years of investment and a massive cultural shift in the U.S. which is generating numbers,” he said.

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Palantir has outperformed the market this year, building on a successful 2024 run in which the stock was the best performer in the S&P 500. Many on Wall Street say the surge in shares has contributed to an elevated multiple for the company, making the bar higher and higher to clear. To be sure, the stock has undergone immense volatility amid the latest batch of market volatility spurred by President Donald Trump’s tariff plans.

“While 2025 numbers move higher on guidance ahead of consensus, we question conservatism and if estimate revisions are priced in from here,” said RBC Capital Markets analyst Rishi Jaluria.

Despite the company’s strong execution and fundamentals, Mizuho’s Gregg Moskowitz also said it’s “very difficult to justify” its high multiple. Raymond James analyst Brian Gesuale said that Palantir needs to consolidate some of its gains to “grow into its rich valuation.”

Wall Street also highlighted a deceleration in international commercial revenues among the reasons for the potential decline in shares. The segment fell 5% year over year after rising 3% in the previous quarter due to headwinds in Europe.

Management said on an earnings call that the region is “going through a very structural change and doesn’t quite get AI.”

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Uber to buy 85% stake in Turkish food delivery platform for $700 million

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Uber to buy 85% stake in Turkish food delivery platform for 0 million

Travelers walk past a sign pointing toward the Uber rideshare vehicle pickup area at Los Angeles International Airport (LAX) on February 8, 2023 in Los Angeles, California.

Mario Tama | Getty Images

Uber will acquire an 85% stake in Turkish food delivery platform Trendyol GO for about $700 million in cash, the company said in a securities filing.

The deal, subject to regulatory approval, is expected to close in the second half of this year. Uber said it expects the transaction to be accretive to its growth once completed.

“Uber and Trendyol GO coming together will elevate the delivery sector in Türkiye for consumers, couriers, restaurants and retailers, especially small and family-owned businesses,” Uber CEO Dara Khosrowshahi said in a release. “This deal reflects our long-term commitment to Türkiye, we’re incredibly impressed with what the Trendyol GO team has built, and we’re excited to continue that strong momentum across the country.”

Founded in 2010, Trendyol GO is run by Turkish e-commerce platform Trendyol, which is majority owned by Chinese titan Alibaba. The platform hosts roughly 90,000 restaurants and 19,000 couriers across the country.

In 2024, Trendyol GO delivery more than 200 million orders and generated $2 billion in gross bookings, a jump of 50% year over year, Uber said in the securities filing.

The announcement comes as Uber is set to report first-quarter earnings before market open on Wednesday. The rideshare and food delivery company is expected to post earnings per share of 51 cents on revenue of $11.6 billion, according to StreetAccount.

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