Prosus Ventures is set to exit the food and consumer goods delivery service in an all-stock deal which will boost DoorDash's international aspirations.
Online food ordering service DoorDash agreed yesterday to acquire Wolt, a Finland-based food and consumer delivery service that counts internet group Prosus as an investor, in a €7bn ($8.1bn) all-share deal.
The transaction is expected to close in the first half of next year and it includes a retention pool sized at about €500m for Wolt’s 4,000 employees and its management team. The company had raised approximately $856m in funding.
Founded in 2014, Wolt operates an online platform which allows customers in 23 countries to order food, groceries and other consumer goods from local shops to be delivered to them at home. The purchase will allow DoorDash to expand its reach to a host of new markets.
Miki Kuusi will oversee the company’s DoorDash International division and will report to CEO Tony Xu, who said: “We have an opportunity to build a global platform for local commerce in the internet…
