We're incredibly excited to be joining forces with Tony and the DoorDash team to build something even greater together,' said Miki Kuusi, Wolt Co-Founder and CEO.

During this process, we've come to appreciate the many similarities of our two teams, cultures and companies, as we've been molded by similar circumstances. 'DoorDash has built an incredible business in one of the most significant markets in the world, while we came from a small home country and had to master the art of expansion very early on. We believe Wolt's combination of technological innovation, operational expertise, and intense focus on the consumer experience are characteristics that will allow our combined company to build a leading local commerce platform and drive substantial growth for many years. Its operational efficiency allows it to sustainably operate in a variety of environments ranging from rural towns to dense city centers. Wolt's consumer obsession and attention to detail are evident in its superb consumer loyalty and retention rates.

Wolt's team of over 4,000 employees operates a leading local commerce platform across 23 countries. 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 toВ consumers, merchants, as well as Dashers and couriers around the world.' 'Under the leadership of Miki Kuusi, Wolt has built a culture of optimism, operational rigor, and bias for action that matches our own. Iconiq was joined by Tiger Global, Goldman Sachs Growth Equity and more than a half-dozen other institutional investors.'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. The round Wolt announced today was led by Iconiq Growth. The startup reportedly started preparing for an initial public offering after its previous $100 million round last year and is now looking to hire a chief financial officer to oversee the effort. DoorDash, for instance, disclosed in the paperwork for its initial public offering last year that it was experimenting with drone delivery.ДЄ stock market listing is on WoltвЂ™s roadmap as well. The extra funding should also allow Wolt to expand its engineering operations as rivals invest in new technologies to differentiate their services. The startup is both partnering with established grocery store chains and setting up its own вЂњdark stores,вЂќ retail locations focused specifically on online orders. WoltвЂ™s long-term plans include expanding to other areas besides the restaurant segment, most notably grocery delivery. Wolt Chief Executive Miki Kuusi said in a statement today that вЂњwe operate in an extremely competitive and well-funded industry, and this round allows us to have a long-term mindset when it comes to doubling down on our different markets.вЂќ One of the highest-profile examples is Uber, whose Eats unit in August reported higher revenue than its ride-hailing business for the first time.

Several of WoltвЂ™s rivals also saw delivery orders surge in 2020 thanks to demand from consumers opting to do their shopping online during the pandemic. Д«esides DoorDash, Wolt competes with Uber Inc.вЂ™s Uber Eats unit, GrubHub Inc.

ThatвЂ™s a comparatively small loss for a startup competing in the highly competitive food delivery market, where much larger players have struggled to achieve profitability. Wolt disclosed today that it closed 2020 just $38 million in the red. Wolt says that its revenues tripled in 2020 on a year-over-year basis, to about $330 million.ДЄnother detail that likely caught investorsвЂ™ attention is that the startup has managed to limit losses despite its rapid top-line growth. The startup claims more than 10 million users in 23 countries to whom it delivers restaurant orders with the help of more than 50,000 couriers. but has a substantial presence in the food delivery market. Wolt isnвЂ™t as well-known as rivals such as publicly traded Deliveroo Inc. Helsinki, Finland-based food delivery startup Wolt Enterprises Oy today announced that it has raised an additional $530 million from investors, less than a year after closing its previous $100 million funding round.

Wolt helsinkibased iconiq