DoorDash Joins Forces with Wolt
SAN FRANCISCO and HELSINKI, Nov. 9, 2021 /PRNewswire/ —
DoorDash, Inc. (NYSE: DASH), (“DoorDash” or the “company”), and Wolt Enterprises OY (“Wolt”) today announced they and certain stockholders of Wolt have entered into a definitive agreement whereby DoorDash will acquire Wolt in an all-stock transaction (the “Transaction”).
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. We expect this partnership to accelerate our progress towards our common goals.
– Transaction is valued at approximately € 7.0 billion, subject to customary purchase price adjustments
– All stock transaction; DoorDash equity issued as part of the transaction will be valued at $206.45 per share, based on DoorDash’s 30-day VWAP as of November 3, 2021
– New retention pool of approximately € 500 million reserved for Wolt management and employees
Lassi Pensikkala comments:
“Miki Kuusi from Finland started Wolt in the year 2014 as he was 25 years old. Wolt is the second fastest crowing company in Europe.
Today he closed a deal with US company DoorDash selling Wolt for huge 7 billion Euros.”
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International Business Consultant
AmerExperience.com/Business founder MSc Econ Lassi Pensikkala is the creator of hashtag #GoodNewsfrom Ecuador
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