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kt888
2021-11-11

Why is Wolt worth $8 billion to DoorDash?

When DoorDash(NYSE:DASH)said on Tuesday that it would pony up the equivalent of $8.1 billion in stoc

Why is Wolt worth $8 billion to DoorDash?

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Besides being headquartered in Finland, Wolt operates almost exclusively in European countries such as Germany, Hungary and Sweden--22 countries, in fact where DoorDash (DASH), even as big as it is, has no food-delivery presence. The only country where DoorDash (DASH) and Wolt currently both have a presence is in Japan.</p>\n<p>In other words, it's all about location, location, location.</p>\n<p>And it's that potential to expand into Europe that's behind DoorDash's (DASH) big all-stock deal. Mizuho Securities analyst James Lee said that with rival Uber Eats(NYSE:UBER)getting about 25% of its business from Europe, it was necessary for DoorDash to not waste any more time in planting its flag across the pond.</p>\n<p>\"The competition is heating up in the region as DoorDash is expected to invest aggressively to grow European market share, said Mizuho Securities analyst James Lee, who left his neutral rating on DoorDash's (DASH) stock unchanged, but raised his price target to $205 a share from $175. Lee said, \"The market is giving DoorDash a significant premium due to its strong execution and international expansion.\"</p>\n<p>Founded in 2014, Wolt, says it has about 4,000 employees in the 23 markets where it operates. Once the deal is finalized, which is expected to be in the second half of 2022, Wolt Chief Executive Miki Kuusi will be in charge of running DoorDash International.</p>\n<p>Bank of America Securities analyst Michael McGovern gave Wolt high marks for being able to grow its business in the third quarter by 130% from a year ago. \"Without geographic expansion, [that's] impressive considering the increasing mobility levels this quarter,\" McGovern said, adding that Wolt appears to be very efficient with its delivery process, as its said its drivers average close to 2.5 deliveries per hour.</p>\n<p>McGovern raised his price target on DoorDash to $270 a share from $255, and left his buy rating on the stock unchanged.</p>\n<p>Enthusiasm for DoorDash (DASH) was high on Wednesday, as the company's shares rose more than 13% in the wake of the Wolt deal and DoorDash (DASH) reporting better-than-expected third-quarter sales and&nbsp;giving an upbeat business outlook.</p>\n<p>DoorDash (DASH) has also been taking steps to expand beyond food delivery, and recently made a deal for same-day delivery of&nbsp;beauty products from Ulta Beauty(NASDAQ:ULTA).</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy is Wolt worth $8 billion to DoorDash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-10 23:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3768738-why-is-wolt-worth-8b-to-doordash><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When DoorDash(NYSE:DASH)said on Tuesday that it would pony up the equivalent of $8.1 billion in stock to acquire Helsinki-based Wolt, the natural question for many was: Who?\nThat shouldn't have been ...</p>\n\n<a href=\"https://seekingalpha.com/news/3768738-why-is-wolt-worth-8b-to-doordash\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3768738-why-is-wolt-worth-8b-to-doordash","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1149227057","content_text":"When DoorDash(NYSE:DASH)said on Tuesday that it would pony up the equivalent of $8.1 billion in stock to acquire Helsinki-based Wolt, the natural question for many was: Who?\nThat shouldn't have been surprising. Besides being headquartered in Finland, Wolt operates almost exclusively in European countries such as Germany, Hungary and Sweden--22 countries, in fact where DoorDash (DASH), even as big as it is, has no food-delivery presence. The only country where DoorDash (DASH) and Wolt currently both have a presence is in Japan.\nIn other words, it's all about location, location, location.\nAnd it's that potential to expand into Europe that's behind DoorDash's (DASH) big all-stock deal. Mizuho Securities analyst James Lee said that with rival Uber Eats(NYSE:UBER)getting about 25% of its business from Europe, it was necessary for DoorDash to not waste any more time in planting its flag across the pond.\n\"The competition is heating up in the region as DoorDash is expected to invest aggressively to grow European market share, said Mizuho Securities analyst James Lee, who left his neutral rating on DoorDash's (DASH) stock unchanged, but raised his price target to $205 a share from $175. Lee said, \"The market is giving DoorDash a significant premium due to its strong execution and international expansion.\"\nFounded in 2014, Wolt, says it has about 4,000 employees in the 23 markets where it operates. Once the deal is finalized, which is expected to be in the second half of 2022, Wolt Chief Executive Miki Kuusi will be in charge of running DoorDash International.\nBank of America Securities analyst Michael McGovern gave Wolt high marks for being able to grow its business in the third quarter by 130% from a year ago. \"Without geographic expansion, [that's] impressive considering the increasing mobility levels this quarter,\" McGovern said, adding that Wolt appears to be very efficient with its delivery process, as its said its drivers average close to 2.5 deliveries per hour.\nMcGovern raised his price target on DoorDash to $270 a share from $255, and left his buy rating on the stock unchanged.\nEnthusiasm for DoorDash (DASH) was high on Wednesday, as the company's shares rose more than 13% in the wake of the Wolt deal and DoorDash (DASH) reporting better-than-expected third-quarter sales and giving an upbeat business outlook.\nDoorDash (DASH) has also been taking steps to expand beyond food delivery, and recently made a deal for same-day delivery of beauty products from Ulta Beauty(NASDAQ:ULTA).","news_type":1},"isVote":1,"tweetType":1,"viewCount":853,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Why is Wolt worth $8 billion to DoorDash?

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