DoorDash announced Tuesday that it would be acquiring Wolt, a food delivery platform which has expanded into groceries and retail, in an all-stock transaction that’s valued at $8.1 billion, CNBC reported.
The move is an effort to accelerate the company’s international growth.
Wolt, which is based in Finland, currently has about 4,000 employees and operates in 23 countries, including Israel. In January, Wolt said it surpassed 10 million users.
Upon closing, Miki Kuusi, current Wolt CEO and founder, will run DoorDash International. The deal is expected to close in the second half of 2022.
The announcement came as part of DoorDash’s third-quarter earnings report.