• Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Dividend Stocks Report
No Result
View All Result
Home Stock News

DoorDash to acquire international delivery platform Wolt for $8.1 billion

by
November 9, 2021
in Stock News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

DoorDash announced Tuesday it’s acquiring Wolt, a food delivery platform that’s expanded into groceries and retail, in an all-stock transaction valued at $8.1 billion.

Related Posts

Facebook co-founder funds research into cooling the Earth with sunlight reflection

Who is Bryan Bottarelli from Monument Traders Alliance?

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

Microsoft CEO Nadella calls A.I.-powered search biggest thing for company since cloud 15 years ago

The move is an effort to accelerate the company’s international growth. Shares of DoorDash popped more than 11% in after-hours trading following an initial dip.

Wolt has about 4,000 employees and operates in 23 countries, the company said in a release. In January, Wolt said it surpassed 10 million users.

Upon closing, Wolt founder and CEO Miki Kuusi will run DoorDash International. The deal is expected to close in the second half of 2022.

The announcement came as part of DoorDash’s third-quarter earnings report.

Here are the key numbers:

Loss per share: 30 cents vs 26 cents expected in a Refinitiv survey of analystsRevenue: $1.28 billion vs $1.18 billion expected

DoorDash reported a net loss of $101 million. That’s more than double its loss of $43 million in the same quarter of 2020.

DoorDash was one of the benefactors of stay-at-home trends as people relied heavily on food delivery services while taking precautions to minimize the spread of Covid-19.

The company said the number of new consumers acquired in the quarter was down compared to peak levels in 2020. But that still remains “well above” levels in 2019 and prior years, it added. Total orders were up 47% to 347 million.

And consumers were spending more on orders during the quarter. Marketplace gross order value jumped 44% to $10.4 billion. DoorDash said it expects a range of $10.3 billion to $10.7 billion in the fourth quarter.

Over 3 million people provided services, or “dashed,” in the quarter to earn more than $2.8 billion. The company also reported 500,000 partner merchants, saying it continues to add at a “pace that is faster than pre-pandemic levels.”

Adjusted EBITDA reached $86 million in the quarter, a decrease of 24% compared to the second quarter. The company anticipates a range of $0 million to $100 million in the fourth quarter.

Subscribe to CNBC on YouTube.

Next Post

Here's how Elon Musk and his companies work to influence politics and policy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Stock News

Facebook co-founder funds research into cooling the Earth with sunlight reflection

by
February 8, 2023
0

This photograph taken on May 11, 2022 shows Shivaram, a villager walking through the cracked bottom of a dried-out pond...

Read more

Facebook co-founder funds research into cooling the Earth with sunlight reflection

Who is Bryan Bottarelli from Monument Traders Alliance?

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

Analysts love these stocks with big upside to play the ChatGPT-driven artificial intelligence craze

Microsoft CEO Nadella calls A.I.-powered search biggest thing for company since cloud 15 years ago

Stocks moving in after-hours: Chipotle, VF Corp, Fortinet, Enphase Energy

Load More

All rights reserved by www.dividendstocksreport.net

  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Stock News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.