Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

DoorDash stock rockets on deal to acquire international delivery platform Wolt for $8.1 billion

by
November 9, 2021
in Latest 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.

The move is an effort to accelerate the company’s international growth. Shares of DoorDash popped more than 24% in after-hours trading following an initial dip.

RELATED POSTS

Russia’s central bank cuts key interest rate again, citing cooling inflation

Monkeypox does not pose a Covid-style risk despite its swift spread, top health execs say

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.

ShareTweetPin

Related Posts

Russia’s central bank cuts key interest rate again, citing cooling inflation

by
May 26, 2022
0

MOSCOW, Russia: The Russian central bank has implemented a range of capital controls in a bid to support domestic assets...

Monkeypox does not pose a Covid-style risk despite its swift spread, top health execs say

by
May 26, 2022
0

Business and political leaders gathered in the Swiss hilltop town of Davos in May 2022 for the World Economic Forum....

If There’s a Recession Coming, Not Even the Fed Could Stop It Now

by
May 26, 2022
0

Jerome Powell departing after taking the oath of office for his second term as Federal Reserve chair on Monday. AFP...

Musk’s Revised Twitter Bid Drops Margin Loan, Requires More Cash

by
May 26, 2022
0

TipRanks 2 “Strong Buy” Stocks Under $10 That Are Too Cheap to Ignore The current market conditions – the NASDAQ...

George Soros says Russia’s gas storage is almost full — and Europe should hold its nerve

by
May 26, 2022
0

Russian President Vladimir Putin delivers a speech during a ceremony honouring the country's Olympians and Paralympians at the Kremlin in...

Next Post

Stock futures are flat on Tuesday ahead of key inflation data

Wednesday: CPI, Unemployment Claims

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!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com