DoorDash reported second-quarter results after the bell Thursday that beat Wall Street’s revenue expectations but showed a greater loss per share than anticipated. Shares of DoorDash popped 18% in after-hours trading. Here’s how the company did: Loss per share: 72 cents vs. 41 cents expected by analysts, according to Refinitiv. Revenue: $1.61 billion vs. 1.52 billion expected by analysts according …
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DoorDash on Wednesday completed its acquisition of Finnish delivery company Wolt, expanding its global footprint from four countries to 27 and marking a big step forward for its international growth plans. Wolt CEO Miki Kuusi will take charge of the company’s operations outside the U.S., which include Australia, Canada and Japan in addition to Wolt’s …
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AMSTERDAM (Reuters) – U.S. food delivery firm DoorDash forecast a slowdown in second-quarter orders at Wolt Enterprises from the start of the year as it completed the $3.5 billion purchase of the European business in the midst of a cost-of-living crisis. The all-share deal to buy Helsinki-based Wolt had been worth more than $8 billion …
Continue reading “DoorDash sees tepid Q2 for Wolt as it completes $3.5 billion takeover”
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 …
Continue reading “Is DoorDash Making a Mistake Expanding Into Europe?”
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 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, …
Continue reading “Food delivery’s M&A frenzy is just getting started”
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 …
