Wolt is a delivery platform for restaurants and stores. They started with food delivery from restaurants, but have since entered into other areas such as groceries, retail stores and boutiques.
They have expanded to 23 countries (operating in more than 250 cites) including Sweden, Estonia, Germany and Japan. Unlike their competitors Uber Eats and Deliveroo which concentrate on densely populated cities, Wolt are able to also focus on the smaller markets with a relatively lower population density.
Wolt was acquired by DoorDash in November 2021 in an all-stock transaction for €7bn. This follows several other better-capitalised food delivery companies buying or investing in younger businesses in this large and crowded market. Following the acquisition, Wolt's chief executive will run DoorDash International and expand the joint business into new markets.
Kirsty
Company Specialist at Welcome to the Jungle