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DoorDash Makes Biggest Deal Yet as Delivery Competition Heats Up

Nov. 9, 2021, 11:41 PM

DoorDash Inc. is hungry.

The biggest meal-delivery service in the U.S. said it’s buying Finnish food-delivery startup Wolt Enterprises Oy for about $8 billion as it seeks to stay ahead of rivals in the race to satisfy soaring demand for fast delivery of everything from food to prescriptions and pet supplies.

The all-stock deal is DoorDash’s biggest purchase to date, eclipsing the acquisition of Caviar in 2019. It’s the latest merger in the quickly consolidating food-delivery market, which has benefited handsomely during the pandemic, but where profits are elusive. Last year saw Europe’s Just Eat Takeaway.com NV buy Grubhub for ...