Related News

Quantum stocks surge after JPMorgan investing push into strategic tech

Quantum computing background concept. Blackdovfx | E+ | Getty Images The rally in quantum computing names continued on Monday after JPMorgan Chase announced it as one of the areas it

Chip stocks bounce on Broadcom,OpenAI deal and easing China tensions

A SK Hynix Inc. 12-layer HBM3E memory chip displayed at the Semiconductor Exhibition in Seoul, South Korea. Bloomberg | Bloomberg | Getty Images Chip stocks bounced on Monday, clawing back

Broadcom’s chip president says mystery $10 billion customer isn’t OpenAI

Jaque Silva | Nurphoto | Getty Images Charlie Kawwas, president of the semiconductor solutions group at Broadcom, on Monday suggested that OpenAI is not the mystery $10 billion customer that

Isro opens XPoSat observatory to Indian scientists

Isro opens XPoSat observatory to Indian scientists BENGALURU: Isro on Monday announced the first Announcement of Opportunity (AO) cycle for its X-ray Polarimeter Satellite (XPoSat), inviting Indian scientists and researchers

Xiaomi shares sink most since April after fatal EV crash raises door safety concerns

A Xiaomi electric car SU7 in a store in Yichang, Hubei Province, China on July 19, 2025. Cfoto | Future Publishing | Getty Images Chinese tech giant Xiaomi saw its

First-ever image captures two black holes orbiting each other |

For the first time in history, scientists have captured an image of two black holes orbiting each other, confirming a long-held astronomical theory. Researchers from the University of Turku in

Deliveroo founder Will Shu to step down as CEO after DoorDash takeover

Word Count: 239 | Estimated Reading Time: 2 minutes

Deliveroo CEO Will Shu.

Aurelien Morissard | IP3 | Getty Images

LONDON — Deliveroo CEO Will Shu is set to step down from the food delivery company he co-founded over a decade ago.

Shu, who established Deliveroo in 2013 with childhood friend Greg Orlowski, said Thursday that he will step down as CEO after its takeover by U.S. rival DoorDash is completed.

DoorDash announced its deal to buy the British online takeout platform in May. The acquisition values Deliveroo at £2.9 billion ($4 billion).

“I have decided that now is the right time for me to step down,” Shu said in a statement Thursday. “Taking Deliveroo from being an idea to what it is today has been amazing.”

“Today the Company’s growth and profitability are accelerating and we are delivering on our mission to transform the way people shop and eat, but after 13 years I want to contemplate my next challenge,” Shu added.

Deliveroo said that its acquisition by DoorDash “continues to progress as anticipated” and is expected to close on Oct. 2 following a scheduled Sept. 30 court hearing to sanction the deal.

Once it closes, the takeover will represent an end to Deliveroo’s tumultuous time in the public markets.

Deliveroo saw its shares plunge 30% in 2021 on the day of its initial public offering, dealing a significant blow to London’s ambitions to compete with New York for more high-profile tech listings.

WATCH: VC Saul Klein on how to boost UK tech sector