8.2 C
New York
Friday, December 3, 2021
HomeTechnologyWith the acquisition of Wolt, DoorDash is targeting Europe

With the acquisition of Wolt, DoorDash is targeting Europe

DoorDash is adding Europe to its menu with the acquisition of food company Wolt, a Finnish-based company, in a $ 8.1 billion wholly-owned transaction, the company said.

The news came on the same day DoorDash reported a 45 percent increase in revenue to $ 1.3 billion in the recent quarter, but more than doubling its loss to $ 101 million in the same period last year.

“The common vision of DoorDash and Wolt is to create a global platform for local commerce that strengthens the communities in which we operate,” said Tony Xu, co-founder and CEO of DoorDash. . “Through the merger, we believe we will accelerate product development, place greater emphasis on each of our markets, and improve the value we provide to consumers, merchants, and Dashers and couriers worldwide.”

Shares of San Francisco-based DoorDash rose more than 19 percent to more than $ 229 in trading after the announcement

Wolt has a team of more than 4,000 in 23 countries. Founded in 2014, the Helsinki-based company allows users to deliver food, groceries and other products to their homes or offices.

“DoorDash has built an incredible store in one of the world’s most important markets, while we started in our small country and had to master the art of expansion very early, “said Miki Kuusi, co-founder and CEO of Wolt.

After the completion of the acquisition, Kuusi will lead the unit within DoorDash International.

Hardware, software, tests, curiosities and colorful news from the IT world by clicking here

Follow World Weekly News on

Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

Leave a Reply

Must Read