Why Delivery Hero is acquiring a majority stake in Spanish delivery company Glovo

Germany’s Delivery Hero is set to become Glovo’s majority shareholder following a deal to acquire an additional 39.4% stake of the Spanish delivery startup, of which it already held 44%. We learned of the deal over the holidays, but you’ll be excused if you missed the news when it broke — the deal was announced on December 31 after 11 …

Waitr plans to acquire a cannabis dispensary POS company for $90M

Dive Brief: Waitr has announced its intention to acquire Cova, a cannabis dispensary point-of-sale company, for $90 million. In a statement, Waitr CEO Carl Grimstad said transactions on the Cova platform could reach approximately $2.3 billion. This isn’t Waitr’s first play in the cannabis space. In March, the company announced a partnership with Flow Payments to create a compliant …

Waitr Holdings to Acquire Dispensary Compliance POS Company

Waitr Holdings Inc, a leader in on-demand food ordering and delivery, announced the company has entered into a non-binding letter of intent to acquire Retail Innovation Labs Inc. dba Cova, a leading point of sale, inventory and compliance software business serving cannabis dispensary retailers in North America. “We believe that the Cova POS solution will …

SoftBank to Back EzCater at $1.6 Billion Value in Funding Round

Corporate food startup EzCater Inc. is worth $1.6 billion after raising $100 million in a funding round led by SoftBank Vision Fund 2, according to a statement reviewed by Bloomberg News. That valuation increase from $1.2 billion in 2019 when it last raised money follows a change in the Boston-based company’s customer base after the coronavirus pandemic altered …

DoorDash-Backed Rapid Grocery Startup Flink Raises $750 Million

Rapid delivery startup Flink SE raised $750 million from investors led by DoorDash Inc. to expand its market position in Europe’s competitive quick commerce sector.  The Berlin-based company’s Series B funding round valued the firm at $2.1 billion before the new financing, and included participation from Mubadala Capital, according to a statement Friday.  Flink was founded in 2020 and …

Is DoorDash Making a Mistake Expanding Into Europe?

Key Points DoorDash is buying a European food delivery company. The all-stock transaction will give DoorDash access to 22 more countries, including Germany and Japan. The acquisition, Wolt Enterprises, has big revenue gains but is still generating net losses. In a bold expansion move, food and retail delivery company DoorDash (NYSE:DASH) announced its acquisition of Finnish delivery company …

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 …

Takeaway CEO says he wants partnerships, not sale, for Grubhub

AMSTERDAM, Nov 17 (Reuters) – Food delivery company Just Eat Takeaway.com (TKWY.AS) has no plans to sell its U.S. subsidiary Grubhub, the company’s chief executive said on Wednesday, but it is actively looking for strategic partnerships for the business. Takeaway bought Grubhub for $7.3 billion in June, but has since faced calls from investors to sell it …

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 …