The food delivery company had been planning to launch into Germany later this year, but this deal will bolster its footprint in Berlin, Tokyo, and a string of smaller Eastern Europe markets
Food delivery cyclists, working for Wolt Enterprises Oy, carry customer orders in Berlin, Germany, on Monday, May 24, 2021. The online food delivery sector has emerged as one of the few industries to flourish during the pandemic, as restaurants stay shut and people get tired of pasta. Photographer: Liesa Johannssen-Koppitz/BloombergDoorDash plans to expand its food delivery business into Europe has been accelerated with the $8 billion all-stock takeover of Finnish startup Wolt. The U.S.
“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,” says Miki Kuusi, Wolt co-founder and CEO. “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.”
DoorDash has been hiring for staff to head up a Berlin office and a possible Germany launch, and had held talks about a possible merger with Deliveroo, or Just Eat Takeaway earlier this year, according to a source close to the talks. Deliveroo’s shares have struggled after a disappointing IPO on the London Stock Exchange earlier this year, while Just Eat Takeaway has been fighting off activist investor Cat Rock Capital’s campaign to force it to sell off American food delivery service GrubHub.
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