The American food delivery platform DoorDash announced on Tuesday that it had reached an agreement to acquire its European competitor, Wolt Enterprises Oy, based in Helsinki, Finland, for 7 billion euros (about 8.1 billion dollars).
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At the end of this share buyback, which is due to close in the first half of 2022, DoorDash will absorb Wolt, which has 4,000 employees and operates in 23 countries.
“DoorDash and Wolt share a vision of creating a global local commerce platform that strengthens the communities in which we operate,”
said Tony Xu, co-founder and CEO of DoorDash, established in 2013.
“By joining forces, we will accelerate the developing our products, bringing more attention to each of our markets and improving the value we deliver to consumers, merchants, as well as Dashers and couriers around the world, ”
he added.
Current Wolt executive Miki Kuusi will lead DoorDash International.
Results exceeding expectations
San Francisco-based DoorDash also reported better than expected quarterly financial results.
The platform's revenue stood at $ 1.275 billion against 879 million a year earlier.
Its loss per share fell to $ 0.30 from $ 0.96 in September 2020.
In electronic trading after the close, DoorDash stock climbed 17.46% to $ 226.