DoorDash Inc. said it has agreed to acquire European food-delivery company Wolt Enterprises Oy in an all-stock deal valued at over $8 billion.
The deal marks the latest merger in the highly competitive food-delivery space, where revenue has skyrocketed during the coronavirus pandemic but profit has been elusive. Last year, Grubhub Inc. agreed to merge with Europe’s Just Eat Takeaway.com N.V., and Uber Technologies Inc. bought smaller rival Postmates Inc.
