DoorDash (DASH, Financial) just pulled off a double strike that could reshape the global food and hospitality tech landscape. In less than a day, it announced two massive acquisitions: UK-based Deliveroo for $3.9 billion and restaurant software firm SevenRooms for $1.2 billion. If approved, these deals will take DoorDash from a U.S. delivery giant to a global local commerce player with a footprint in over 40 countries and access to 50 million monthly users. Deliveroo adds international scale. SevenRooms brings restaurant CRM and reservation tech used by major brands like Marriott and MGM. CFO Ravi Inukonda framed it as a move to bring the company's proven U.S. product experience to a broader global audience.

The market blinked—shares dropped nearly 6.7% at 12.14pm —but the business fundamentals held firm. Q1 gross order value exceeded expectations, and DoorDash is guiding even higher this quarter: $23.3 to $23.7 billion, beating Wall Street's estimates. Net income came in at $193 million, above consensus, and grocery delivery stood out as a growth engine with rising consumer spend. The only red flag? Adjusted EBITDA guidance missed slightly at the midpoint, thanks to spending on international expansion. Still, the company's message is clear: strong consumer engagement, expanding verticals, and confidence to invest heavily.

And DoorDash has the balance sheet to back it up. While debt levels have stayed relatively modest in recent years, cash reserves have rebounded significantly since 2022—climbing to their highest level by the end of 2024.

Even with a $2.85 billion bridge loan to help fund the Deliveroo deal, the company is operating from a position of financial strength, not desperation. If execution matches vision, this may be the moment DoorDash shifts from dominating U.S. delivery to owning a much bigger slice of global commerce.