• Email Us: [email protected]
  • Contact Us: +1 718 618 4351
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

DoorDash To Acquire Finnish Food Delivery Startup Wolt For USD 8.1 Billion

November 16, 2021 by David Barret Leave a Comment

On-demand delivery giant Doordash has signed a deal to acquire Finnish delivery startup Wolt. The deal would be an all-stock transaction that is valued at USD 8.1 billion. Doordash said that acquisition is part of its efforts to give a push to the company’s international expansion. Wolt, which started as a food delivery platform, has now expanded into groceries and retail. The startup has around 4,000 employees and is operating in 23 countries. Wolt had announced in January that it had crossed the mark of 10 million users. Once the deal is closed, DoorDash International will be run by Wolt founder and chief executive officer Miki Kuusi. The deal is expected to be closed in the second half of 2022.

The announcement about the acquisition coincides with the company’s third-quarter earnings report. The third-quarter earnings of the company are not very impressive. It reported a net loss of USD 101 million. This loss is more than double what it reported in the same quarter a year ago. The loss of DoorDash in the third quarter of 2020 was USD 43 million. It is important to mention that just like other delivery services, DoorDash too benefitted because of the stay-at-home trends, which started after the coronavirus pandemic forced people to follow the norms of social distancing. People got dependent on these delivery services as they seemed to be the only way to minimize the spread of Covid-19.

DoorDash said that it witnessed a downfall in the number of new consumers in this quarter when compared to the highest levels that the company witnessed in 2020 when coronavirus was at its peak. The number of new users in 2020 was well above what the company had added in 2019. The number of total orders placed on the app reached 347 million, up by around 47 percent. According to the company, consumers were spending much more in that quarter. Also, there were around 3 million people who provide services in the quarter and earned over USD 2.8 billion.

David Barret
David Barret

Related posts:

  1. McDonald’s CEO Steps Down After Violating Company Policy
  2. Uber in talks to sell UberEats’ business in India to Zomato
  3. Walmart To Launch Delivery Service Go Local, Shipping Expected To Begin By End Of This Year
  4. Food Delivery Apps Join Hands To Sue New York City Over Cap On Delivery Fees

Filed Under: Business

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Researchers Have Found Where The Energy Goes In Quantum Turbulence
  • Emergency Alert Test To Ping Every Phone In The UK, Temporarily Blocking Apps
  • New IPCC Climate Report: “We Are Up The Proverbial Creek, But We Do Have A Paddle”
  • It’s The Spring Equinox, But Does That Really Mean Equal Day And Night?
  • The Devil’s Kettle: For Decades, Nobody Knew Where This Underground River Led
  • Newly-Discovered Volcanic Plume-Dwelling Bacteria Boost Prospects For Life Within Icy Moons
  • 1900s “One Night Cough Syrup” Scares The Internet With Wild Ingredients
  • Yes, You Can Have An Allergic Reaction To Semen
  • Hessdalen Lights: The Unexplained Lights That Hover Above Norway
  • Scientists Have Found Heatwaves At The Bottom Of The Ocean, And That’s Extremely Bad News
  • What Are Raccoon Dogs? Meet The New Face Of The COVID-19 Outbreak
  • Thylacines May Have Been Walking The Earth As Late As The 1980s
  • NASA’s “Return To Venus” Mission May Have Just Become Collateral Damage
  • South Park Creators Use ChatGPT To Co-Write Episode About AI
  • New Schizophrenia Risk Genes Identified By Largest Study Of Its Kind
  • How Your Native Language Changes The Structure Of Your Brain
  • Ozempic Helps Weight Loss By Making You Feel Full. But Certain Foods Can Do The Same Thing – Without The Side-Effects
  • Paralysis Outbreak Across Europe Linked To Weight-Loss Botox Treatment
  • Gasoline Has A Shelf Life, And It’s Way Shorter Than You Think
  • Cetirizine Hydrochloride Market To Develop Speedily With CAGR Of 3.2% By 2032
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 618 4351
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2023 · Medical Market Report. All Rights Reserved.

Go to mobile version