DoorDash CEO Tony Xu: M&A is easy on paper— ‘very hard to get right in practice’

Group 1: M&A Strategy - DoorDash emphasizes the importance of partnering with operating teams that share its values in M&A, as highlighted by CEO Tony Xu [2] - The company completed the $1.2 billion acquisition of SevenRooms and acquired ad-tech platform Symbiosys for approximately $175 million [2] - DoorDash has agreed to acquire UK-based Deliveroo for about $3.9 billion, expecting to close in Q4 2025, pending regulatory approval [2] Group 2: Automation and AI Initiatives - DoorDash has been working on autonomous delivery solutions, including drones and sidewalk robots, since 2017, facing significant challenges in achieving reliable and scalable delivery [3] - The company is beginning to see commercial progress with successful tests and pilots in the U.S. and Australia, including partnerships with Coco Robotics and Alphabet's Wing [4] - DoorDash develops AI agents for various applications such as customer service, voice ordering, logistics, and merchant support [5] Group 3: Business Evolution - Founded in 2013, DoorDash aims to build a local commerce business rather than just a food delivery service, expanding its offerings beyond food to include groceries, pharmacies, and retail stores [6] - The company debuted on the Fortune 500 list last year, indicating significant growth and market presence [6]