A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020.
Carlo Allegri | Reuters
Doordash on Tuesday announced the $1.2 billion acquisition of restaurant booking platform SevenRooms and reported first-quarter revenue that missed expectations.
Shares fell about 4% following the news.
Here’s how the company did, based on LSEG expectations:
- Earnings per share: 44 cents adjusted vs. 39 cents expected
- Revenue: $3.03 billion vs. $3.09 billion expected
Doordash said the all-cash acquisition of SevenRooms, a New York City-based data platform for restaurants and hotels to manage booking information, will close in the second half of 2025.
British food delivery service Deliveroo said Tuesday that they have agreed to a deal with Doordash worth $3.9 billion.
“We believe both SevenRooms and Deliveroo will expand our ability to build world class services that increase our potential to grow local commerce and support our financial goals,” Doordash said in a release.
Doordash reported total orders of 732 million for the quarter, an 18% increase over the same period a year ago. Analysts polled by StreetAccount expected 732.7 million.
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