Sunday, November 28

US group buys Wolt

The US food delivery service Doordash, a competitor of the Dax group Delivery-Hero, is taking over the provider Wolt. Doordash announced that he would pay seven billion euros for Wolt in a pure share deal. As a result, global competition for the rapidly growing customer base during the Corona crisis is intensifying. In the USA Doordash, Uber and Grubhub owner Just Eat Takeaway are fighting for market share, in Europe, in addition to Wolt, Foodpanda drivers are on the road, the brand belongs to the Berlin company Delivery Hero. Most of the global players are in the red because of their high investments in growth. If more people go to restaurants again, this could exacerbate the pressure to consolidate in the industry. There are already many cross-shareholdings. Delivery Hero holds shares in competitor Deliveroo and in Lieferando owner Just Eat Takeaway.

Reference-www.sueddeutsche.de

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