DoorDash Acquires Wolt in an $8.1B Deal
Summary
California-based delivery company DoorDash has recently struck a deal for acquiring its European competitor Wolt. “By joining forces, we believe we will accelerate our product development, bring greater focus to each of our markets, and improve the value we provide to consumers, merchants, as well as Dashers and couriers around the world,” said Tony Xu, CEO of DoorDash. Miki Kuusi, Wolt’s founder and CEO, will remain at the head of the company, although he’ll report to Xu. According to the press release, the remainder of the company’s structure will remain unchanged, along with operations within 23 European countries where more than 4,000 work for Wolt. Lockdowns and working from home drove many people to order online instead of going to the stores, bringing significant revenue to delivery services and apps.