DoorDash to Acquire Wolt for $8 Billion

Consolidation continues in the delivery sector. DoorDash announced it has agreed to acquire Wolt (pronounced “volt”), a Helsinki-based delivery firm in an all-stock transaction that values the company at approximately $8.1 billion. If the proposed merger goes through, it will be the largest in the meal delivery space. “This partnership is really about acceleration and …

Food delivery’s M&A frenzy is just getting started

Food delivery companies are hungry for more. DoorDash announced yesterday (Nov. 10) it is buying Wolt, a Helsinki-based food delivery startup, in an all-stock transaction valued at $8 billion, marking the latest consolidation in the food delivery market. The deal will help DoorDash, which is the market leader of the US food delivery market, expand its international presence. Wolt, …

DoorDash to buy Wolt in $8 billion+ deal

DoorDash Inc said on Tuesday it would buy Finland-based rival Wolt Enterprises OY in an all-stock deal valued at about 7 billion euros ($8.09 billion), as the biggest US food delivery expands into Europe. A pandemic-driven boom in demand for services offered by DoorDash and rivals is expected to ease in the coming months, but …

DoorDash Said to Lead Round in Flink at $2.1 Billion Value

DoorDash Inc. is leading a fundraising round in Flink SE with a pre-money valuation for the Berlin-based grocery delivery startup of $2.1 billion, people familiar with the matter said.  Flink is raising several hundred million dollars in the round from DoorDash and existing investors, and is set to announce the results in the coming weeks, the people said, …

GrubHub Stock Slides As Amazon Offers UK Prime Members Free Delivery

Just Eat Takeaway.com  (GRUB) – Get Grubhub, Inc. Report shares slumped lower Wednesday after Amazon announced a partnership that will provide free food delivery for Prime members in the U.K. in a move that could also add pressure to rivals such as DoorDash  (DASH) – Get DoorDash Report and Uber Eats  (UBER) – Get Uber Technologies, Inc. Report. Amazon is offering a free year of …

Uber Eats other food delivery firms under the spotlight in Spain as new laws come into force

MADRID (AP) — A new law requiring food delivery companies in Spain to hire delivery riders and drivers as employees rather than freelance contractors took effect Thursday with labor unions urging close monitoring and inspections to enforce it. Spain’s Trade Union Confederation said the so-called Riders Law would “put an end to the labor fraud …

Meal delivery company Doordash has its eyes on Europe

The American meal delivery company Doordash has European ambitions. It wants to realise these by investing in the Berlin-based express grocery delivery service Gorillas, also active in Belgium and the Netherlands. Growth money Bloomberg reported that Gorillas was looking for fresh capital to open warehouses in new cities a few months ago. The Berlin start-up was aiming for …

Deliveroo shares rise after German rival takes stake in the business

LONDON – Shares of food delivery firm Deliveroo climbed over 10% Monday after the company announced larger German rival Delivery Hero has taken a 5.09% stake in the business. The firm’s stock climbed from £3.36 ($4.66) per share to £3.60 per share in early deals on the London Stock Exchange Monday, reaching their highest point since trading began in …

Deliveroo eyes leaving Spain as riders become staff

MADRID: Deliveroo’s trademark green rucksacks may soon disappear from Spanish streets after food delivery firm said it was considering leaving that market where its riders will soon be recognized as staff. “Deliveroo is intending to consult with its employees over ending its operations in Spain,” the app-driven food delivery firm said in a statement just two …

Gorillas in talks to take DoorDash investment at a $2.5bn valuation

10-minute grocery startup Gorillas is in talks to raise a new funding round led by US’s largest food delivery company DoorDash at a valuation far below what it had hoped earlier this year.  Two sources told Sifted that the Berlin-based startup was expecting to raise at a $2.5bn valuation, which is far below the $6bn …