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DoorDash delivery program has entered into an agreement to buy Wolt from the Finnish supplier at a cost of € 7bn.
Wolt from Helsinki, with more than 4,000 employees, operates in 23 European markets, including Germany, where DoorDash has been keen to find a competitive market for food and retail.
The app has more than 2.5m users, according to a commercial release on Tuesday. It stated that the amount of the Wolt system – the total amount of money that has been made – was more than $ 2.5bn, per year.
Miki Kuusi, founder of Wolt and CEO, will run DoorDash International, a new phase of its operations outside the US. He will brief Tony Xu, head of DoorDash, on the release of the deal.
Other “executives” have joined DoorDash, the company said. The deal is expected to end in the first half of 2022, subject to legal approval.
Wolt, founded in 2014, raised more than $ 800m as a business venture, plus $ 530m in January led by Iconiq Capital.
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