DoorDash buys Finland's delivery scale-up Wolt for approximately €7 billion in stock

DoorDash is acquiring Finland-based on-demand delivery company Wolt in an all-stock transaction valued at roughly €7 billion.

Wolt was founded in 2014, and boasts a team of over 4,000 employees operating a local commerce platform across 23 countries.

According to Crunchbase, the company raised a little over $820 million in funding to date.

"DoorDash and Wolt share a vision to build a global platform for local commerce that empowers the communities we operate in," said Tony Xu, co-founder and CEO of DoorDash. "Under the leadership of Miki Kuusi, Wolt has built a culture of optimism, operational rigor, and bias for action that matches our own. By joining forces, we believe we 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."

Upon closing of the acquisition, Kuusi will run 'DoorDash International', reporting to Xu.