As a significant catalyst for this bullish outlook, Anmuth highlighted DoorDash’s acquisition of Deliveroo, which previously operated in nine markets that were new to DoorDash. With this acquisition, DoorDash now boasts operations in 45 countries, serving a combined population exceeding one billion. The platform caters to over 700,000 local businesses and has 50 million monthly active users, with Deliveroo contributing approximately seven million to this total.
“Recent M&A expands TAM with Deliveroo expanding DoorDash’s footprint in Western Europe and the Middle East,” Anmuth noted. He emphasized that, given the presence of established competitors in these regions, DoorDash will likely need to reinvest its profits aggressively to scale its operations and capture market share.
Anmuth anticipates that these investments will focus on customer acquisition and enhancing the subscription offerings to encourage higher frequency usage. Over time, he expects DoorDash to leverage its operational and logistics expertise to drive efficiencies within the Deliveroo business.
Additionally, the recent integration of Kroger’s 2,700 stores into DoorDash’s platform is expected to further enhance its service offerings. Anmuth also identified a “significant opportunity” in advertising revenue. He projected that if ad monetization reaches 2% by 2027 for both DoorDash and Deliveroo, it could generate approximately $3 billion in revenue.
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