The online food delivery platform DoorDash announced its acquisition of Finnish delivery app Wolt in an all-stock transaction for €7 billion.
The Co-founder and CEO of DoorDash, Tony Xu, said:
“DoorDash and Wolt share a vision to build a global platform for local commerce that empowers the communities we operate in,”
“Under the leadership of Miki Kuusi, Wolt has built a culture of optimism, operational rigor, and
bias for action that matches our own. 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.”
The Finnish app Wolt has over 4,000 employees operating a leading local commerce platform across various countries. Wolt’s consumer obsession and attention to detail are evident in its superb consumer loyalty and retention rates.
The company’s efficiency allows it to operate in a variety of environments ranging from rural towns to city centres the company believes that Wolt’s combination of technological innovation, operational expertise, and intense focus on the consumer experience are characteristics that will allow our combined company to build a leading local commerce platform and drive substantial growth for many years.
Miki Kuusi, the Co-Founder and CEO of Wolt will run DoorDash International after the acquisition the company expects to increase international scale accelerate product development, and improve investment efficiency. companywill continue investing aggressively in the combined team to build their platform and grow business globally.
