DoorDash acquires Wolt

In its second acquisition of 2021, US q-commerce company DoorDash has announced it is to buy food Finland based restaurant delivery company Wolt in a deal worth €7 billion.

Tony Xu, co-founder and CEO of DoorDash said in a statement that the move “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.” The deal is DoorDash’s sixth acquisition since the company was founded.

Finnish Wolt was founded in 2014 by Miki Kuusi who now joins the new parent company as head of DoorDash International and will report to XU. The firm now has 4,000 staff in 23 countries. To date it has raised more than €741 million in investment, with its latest €462 million investment round in January.

The transaction is set to close in the first half of 2022.