DoorDash to buy Finnish food-delivery startup
- ByStartupStory | November 11, 2021
The transaction is the latest in the highly competitive food-delivery arena, where revenue has soared during the coronavirus outbreak but profit has eluded the industry. Grubhub Inc. and Europe’s Just Eat Takeaway.com N.V. decided to merge last year, and Uber Technologies Inc. purchased smaller rival Postmates Inc.After the purchase concludes, which the businesses expect in the first half of next year, Wolt’s co-founder and CEO, Miki Kuusi, will head DoorDash’s international operation. Wolt, headquartered in Helsinki, employs 4,000 workers in 23 countries.
DoorDash, the largest food-delivery service in the United States, will compete with Uber Eats throughout Europe as a result of the merger. After taking the lion’s share of the domestic market during the health crisis, DoorDash has been increasingly looking to expand internationally. According to people familiar with the situation, the company considered a deal with a German grocery-delivery company early this year, but talks fell through. After the Wolt acquisition, DoorDash will have a presence in 26 countries, having entered into Japan in the second quarter of this year.
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