Family Office

Doordash Shares Jump 17% On $8B Deal, Earnings Beat | Business Standard News

by business-standard.com posted 2weeks ago 31 views
The all-stock deal is DoorDash's biggest purchase to date, eclipsing the acquisition of Caviar in 2019.: DoorDash Inc.’s shares soared 17% as the market opened on Wednesday, after the biggest meal-delivery service in the U.S. said it’s buying Finnish food-delivery startup Wolt Enterprises Oy for about $8 billion. The all-stock deal is DoorDash’s biggest purchase to date, eclipsing the acquisition of Caviar in 2019. It’s the latest merger in the quickly consolidating food-delivery market, which has benefited handsomely during the pandemic, but where profits are elusive.

In this article