Wolt’s CEO Mickey Six says the distribution company ‘s sale to DoorDash was a “small surprise” for him too. The company’s plan was to list on a stock exchange instead of selling it to a competitor.
Late on Tuesday, the company announced a deal of about seven billion euros to sell to DoorDash, which is one of the largest acquisitions of a Finnish company ever.
Six says he still considered it unlikely to sell Wolt a few months ago.
"This was a difficult decision on a personal level as well." said Six.
The deal made headlines in Finland, and ministers and business representatives praised the company for its apparent success.
“A really exciting opportunity”
According to Kuus, Wolt has had close ties to DoorDash for some time. For example. Six has known the CEO of DoorDash Tony Xu for several years.
"We have not understood how similar we are as companies and how similar our thinking is," said Six.
DoorDash’s position as a large international company was also attractive. The company is the largest food courier service in the United States.
"It’s a really exciting opportunity," said Six, who will now lead the company’s international operations.
"We have always been a small company focused on the domestic market, competing with companies that have received ten or a hundred times more funding," said Six.
Following the transaction, Wolt will continue to operate under its own name and products. Wolt’s customers, partners and couriers see things going on as before.
One issue that the new company will have to deal with is the ruling that Wolt’s couriers in Finland are employees, not entrepreneurs.
The company claims that couriers are entrepreneurs rather than employees.
Source: The Nordic Page