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DoorDash to acquire food delivery company Wolt

On-demand delivery giant DoorDash announced Tuesday it was acquiring food delivery company Wolt in an all-stock deal valued at €7 billion, or $8.1 billion. Talking about the acquisition, Tony Xu, co-founder and CEO of DoorDash said in a statement that the move “will accelerate our product development, bring greater focus to each of our markets and improve the value we provide to consumers, merchants, as well as Dashers and couriers around the world.” Finland-based Wolt was founded in 2014 by Miki Kuusi, who, upon the deal closing, will run DoorDash International and report to Xu.