USA \u2014 DoorDash (NYSE: DASH) is acqui\u00adring Wolt, a leading food deli\u00advery plat\u00adform in an all-stock deal worth appro\u00adxi\u00adm\u00adately EUR 7 billion; EQT Ventures and EQT Growth will exit their holdings in Wolt and receive DoorDash stock as part of the transaction<\/p>\n
EQT Ventures led the early Series\u2011A finan\u00adcing round for Wolt in 2016 and has since been a close part\u00adner and advi\u00adsor to Wolt, parti\u00adci\u00adpa\u00adting in all subse\u00adquent finan\u00adcing rounds. EQT Growth inves\u00adted in Wolt\u2019s latest USD 530 million round of finan\u00adcing in Janu\u00adary 2021<\/p>\n
Since its foun\u00adding in Finland in 2014, the Helsinki-based company has expan\u00added to 23 count\u00adries and today employs over 4,000 people
\nToday it was announ\u00adced that DoorDash (NYSE: DASH) has ente\u00adred into a defi\u00adni\u00adtive agree\u00adment to acquire Wolt (the \u201cCompany\u201d) for appro\u00adxi\u00adm\u00adately EUR 7 billion in an all-stock tran\u00adsac\u00adtion, subject to regu\u00adla\u00adtory appr\u00adoval and other custo\u00admary closing condi\u00adti\u00adons for tran\u00adsac\u00adtions of this type. As part of the tran\u00adsac\u00adtion, the EQT Ventures I fund (\u201cEQT Ventures\u201d) and EQT Growth are exiting their holdings in Wolt and recei\u00adving shares in DoorDash. DoorDash is a tech\u00adno\u00adlogy company that connects consu\u00admers with their favo\u00adrite local and natio\u00adnal busi\u00adnesses in more than 7,000 cities across the United States, Canada, Austra\u00adlia and Japan. With the acqui\u00adsi\u00adtion of Wolt, DoorDash will add a signi\u00adfi\u00adcant inter\u00adna\u00adtio\u00adnal presence.<\/p>\n
Wolt was estab\u00adlished in 2014 in Helsinki, Finland, by CEO Miki Kuusi and co-foun\u00adders, who had a vision of crea\u00adting a truly tech-orien\u00adted company that would make it easy and fun to disco\u00adver great food deli\u00advered directly to home or office. Wolt\u2019s plat\u00adform and data-driven deli\u00advery infra\u00adstruc\u00adture provide custo\u00admer conve\u00adni\u00adence and new reve\u00adnue oppor\u00adtu\u00adni\u00adties for both restau\u00adrants and retail\u00aders. It has grown rapidly and today opera\u00adtes across 23 count\u00adries and employs over 4,000 people.<\/p>\n
EQT Ventures was one of Wolt\u2019s earliest inves\u00adtors and has parti\u00adci\u00adpa\u00adted in all subse\u00adquent finan\u00adcing rounds, during which it has played a pivo\u00adtal role in support\u00ading the Company to become one of the largest private tech\u00adno\u00adlogy compa\u00adnies in Europe. EQT Growth joined the jour\u00adney in Janu\u00adary 2021 as part of Wolt\u2019s latest growth finan\u00adcing round, show\u00adca\u00adsing EQT\u2019s ability to \u201cback its winners\u201d over time and across the EQT plat\u00adform. Today, EQT Ventures and EQT Growth combi\u00adned are Wolt\u2019s largest shareholders.<\/p>\n
Johan Svan\u00adstr\u00f6m, Part\u00adner within EQT Grow\u00adth\u2019s Advi\u00adsory Team and Wolt board member since 2018, and Lars J\u00f6rnow, Part\u00adner within EQT Ventures\u2019 Advi\u00adsory Team and part of the initial invest\u00adment team for Wolt when the fund led the Series A, commen\u00adted, \u201cWe are thril\u00adled to see Wolt and DoorDash join forces. EQT Ventures origi\u00adnally inves\u00adted in a small, tech-obses\u00adsed and gritty Finnish team that was looking for a hands-on and invol\u00adved invest\u00adment part\u00adner. Through our close working rela\u00adti\u00adonship and supported by capi\u00adtal invest\u00adments from EQT Ventures, and subse\u00adquently EQT Growth, today Wolt is one of Euro\u00adpe\u2019s most successful private tech\u00adno\u00adlogy compa\u00adnies. It has been a plea\u00adsure support\u00ading CEO Miki Kuusi and the team in buil\u00adding and scaling the company and we look forward to follo\u00adwing them for years to come.\u201d<\/p>\n
Miki Kuusi, CEO of Wolt, said, \u201cThe entire EQT plat\u00adform has been criti\u00adcal in our growth and success over recent years. EQT Ventures were one of our earliest backers and have remained with us ever since. In 2021, we were deligh\u00adted to welcome EQT Growth to the fold as part of our latest funding round. Today, I\u2019m incre\u00addi\u00adbly exci\u00adted to announce that Wolt is joining forces with the DoorDash team to start our next chapter.\u201d<\/p>\n
The tran\u00adsac\u00adtion is subject to regu\u00adla\u00adtory appr\u00adoval and other custo\u00admary closing condi\u00adti\u00adons for tran\u00adsac\u00adtions of this type. The DoorDash equity issued as part of the tran\u00adsac\u00adtion will be valued at $206.45 per share, based on DoorDa\u00adsh\u2019s 30 day VWAP as of Novem\u00adber 3, 2021.<\/p>\n
EQT Ventures and EQT Growth were advi\u00adsed by law firm DLA Piper.<\/p>\n","protected":false},"excerpt":{"rendered":"
USA \u2014 DoorDash (NYSE: DASH) is acqui\u00adring Wolt, a leading food deli\u00advery plat\u00adform in an all-stock deal worth appro\u00adxi\u00adm\u00adately EUR 7 billion; EQT Ventures and EQT Growth will exit their holdings in Wolt and receive DoorDash stock as part of the tran\u00adsac\u00adtion EQT Ventures led the early Series\u2011A finan\u00adcing round for Wolt in 2016 and [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":38266,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1369,1371,1373],"tags":[],"class_list":["post-40266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-investors","category-deals-en","category-venture-capital-en"],"yoast_head":"\n