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DOORDASH TO BUY WOLT

DoorDash and certain stockholders of Wolt Enterprises OY  have entered into a definitive agreement whereby DoorDash will acquire Wolt in an all-stock transaction, valued at about EUR 7 billion (USD 8.09 billion). 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’s shares surged nearly 19% in after-market trading on the acquisition that helps the company enter 22 additional markets, including Germany, Croatia, Serbia, Denmark and Sweden.

Wolt, since its first delivery in Helsinki, Finland, in 2015, has grown to expand in Europe and Asia and has over 30,000 restaurant and retail partners. The company had more than 2.5 million monthly active users, while DoorDash exited third quarter with over 9 million members using its subscription service.