Tony Xu Champions M&A Discipline, AI Advances and All-Night Waffle House Delivery Deal
Lead DoorDash CEO Tony Xu told Fortune Brainstorm Tech in Park City on Monday that mergers and acquisitions “look easy on paper but are very hard in practice,” while highlighting progress in automation, AI and an exclusive all-night Waffle House delivery partnership.
Nut Graf Xu’s remarks underscore DoorDash’s strategic pivot beyond food delivery toward a diversified local commerce platform. By stressing cultural alignment in acquisitions and technological investments, Xu framed recent deals and innovations as crucial to sustaining growth and enhancing service offerings.
Main Part
Mergers and Acquisitions
- Xu reflected on the 2021 Wolt acquisition, stressing the importance of partnering with teams sharing DoorDash’s values.
- He noted the successful closures of SevenRooms for $1.2 billion and Symbiosys for $175 million earlier this year.
- Pending regulatory approval, DoorDash aims to complete its $3.9 billion buyout of UK-based Deliveroo in Q4 2025.
Automation and AI Progress
- DoorDash has invested heavily in autonomous delivery since 2017, from sidewalk robots to drones.
- Xu acknowledged the “lots of pain and suffering” inherent in building hardware, software, network and service quality in tandem.
- He described current trials-including robot partnerships with Coco Robotics in the U.S. and drone pilots with Alphabet’s Wing in Australia-as early signs of “first inning” commercial progress.
- The company is deploying AI agents for customer support, voice ordering, logistics optimization and merchant ad-buying assistance.
Exclusive Waffle House Partnership
- On Monday, DoorDash announced an all-night delivery deal with Waffle House, offering service from 9 p.m. to 8 a.m.
- Xu emphasized a 15-minute target from preparation to delivery to “provide a quality experience” in this decades-old chain’s first-ever delivery offering.
Financial and Growth Highlights
- DoorDash debuted on the Fortune 500 last year and climbed 49 spots to No. 394 in 2025.
- Q2 2025 revenue reached $3.28 billion, up 25% year-over-year, with earnings per share of $0.65 vs. $0.44 expected.
- Total orders surged 20% to 761 million in the quarter.
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