DoorDash acquires food delivery platform Wolt
US-based food ordering and delivery platform DoorDash has acquired a minority stake in Helsinki-based food-tech brand Wolt Enterprises.
As per the statement, both companies share a mission to build a global platform for local commerce that connects consumers with the best of their community, drives incremental revenue for merchants, and provides meaningful earning opportunities for millions of Dashers and couriers around the world.
"DoorDash and Wolt share a vision to build a global platform for local commerce that empowers the communities we operate in," said Tony Xu, Co-founder and CEO of DoorDash by adding that by joining forces, they believe they will accelerate their product development, bring greater focus to each of markets, and improve the value they provide to consumers, merchants, as well as Dashers and couriers around the world.
Wolt's team of over 4,000 employees operates a leading local commerce platform across 23 countries. Wolt's consumer obsession and attention to detail are evident in its superb consumer loyalty and retention rates. Its operational efficiency allows it to sustainably operate in a variety of environments ranging from rural towns to dense city centers.
"DoorDash has built an incredible business in one of the most significant markets in the world, while we came from a small home country and had to master the art of expansion very early on. During this process, we've come to appreciate the many similarities of our two teams, cultures and companies, as we've been molded by similar circumstances. We're incredibly excited to be joining forces with Tony and the DoorDash team to build something even greater together," added Miki Kuusi, Wolt Co-Founder and CEO.
Upon closing of the acquisition, Miki Kuusi will run DoorDash International, reporting to Tony Xu. Under Miki's leadership, the brand expect to increase their international scale, accelerate product development, and improve our investment efficiency.
"We have an opportunity to build a global platform for local commerce in the internet era," added Xu by pointing that joining forces with Wolt will deepen their pool of superb talent and allow them to accelerate their international growth, while elevating their focus on the U.S.