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June 2, 2022

DoorDash concludes $8.1bn acquisition of food delivery platform Wolt

Wolt’s CEO Miki Kuusi will oversee combined company's team and operations outside the US.

American online food ordering company DoorDash has wrapped up the acquisition of multi-national food delivery platform Wolt.

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DoorDash agreed to acquire Wolt in an all-stock transaction valued at approximately $8.1bn (€7bn) in November last year.

Wolt is a Finnish technology company, which delivers food from restaurants as well as other goods from local stores and grocery outlets.

It has a workforce of nearly 4,000 employees and has presence in 23 countries across the globe.

With the completion of the deal, DoorDash now has presence in 27 countries, including the US.

DoorDash co-founder and CEO Tony Xu said: “DoorDash is at the beginning of a colossal journey, and I’m more excited than ever about what we’re building and the potential to help hundreds of millions of people across the globe in our mission to empower local economies.

“Together with Wolt, we believe we have the best team and platform to serve merchants, consumers, and couriers in our existing and future markets. Our journey in building our international business is just beginning and we’re confident in the incredible future we will build together.”

Wolt’s CEO Miki Kuusi will now oversee combined company’s team and operations outside the US.

Under Kuusi’s leadership, DoorDash aims to increase its global footprint through faster product development and improved investment efficiency.

Wolt will continue to operate in all its existing markets.

Kuusi said: “Today marks the beginning of a new chapter for Wolt. By joining forces with DoorDash, we have an even greater ability to build delightful products and services across continents. “Our two companies share a strong vision for local commerce, and working side by side, we can accomplish more for all our stakeholders.”

Free Report
img

Meet emerging digital demand in the foodservice industry

Global digital pressures are making waves across sectors. The foodservice industry is seeing particular impact as consumers change the way they operate. It is therefore essential to know how to navigate the challenges that digital is presenting to the industry and its consumers. GlobalData’s free report explores the market outlook for the global foodservice industry, with insights into how foodservice operators, brands, and their suppliers can meet changing demands. Key features in this report include:
  • An overview of dine-in, takeaway, and delivery forecasts up to 2026
  • Areas foodservice industry players should be focusing on for digital investment
  • Consumer insight into attitudes towards digital convenience
  • Challenges facing foodservice, in terms of investment and logical considerations
  • Key examples of top industry players
Adapt and stay on top. Download our free report now.
by GlobalData
Enter your details here to receive your free Report.

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