Wolt

Wolt Enterprises Oy,trading asWolt, is aFinnishfood delivery company known for its delivery platform for food and merchandise. On Wolt'sapps(iOS and Android) or website, customers can order food and household goods from the platform's restaurant and merchant partners, and either pick up their order or have it delivered by the platform's courier partners. Wolt also runs its own chain of grocery stores called Wolt Market.Wolt is headquartered inHelsinki.
In May 2022, Wolt was acquired by the American food delivery companyDoorDash. Wolt continues to operate as a sub-brand of DoorDash inEuropeandAsia, while DoorDash uses its own branding inNorth AmericaandAustralasia.
Wolt was founded in 2014 by 6 founders, including Miki Kuusi, the former CEO ofSlushand CEO of Wolt. Kuusi has been responsible for DoorDash's business outside the US since May 2022, when DoorDash acquired Wolt.
As of May 2023, Wolt operates in 25 countries and over 300 cities, including Helsinki, Tokyo, and Berlin. Wolt has over 70,000 merchant partners, 150,000 courier partners and 20 million registered customers.Wolt has over 7,000 employees across its offices in 25 countries.
In November 2021, it was announced that Wolt was being merged intoDoorDashthrough an exchange of shares, giving Wolt shareholders a minority of shares in DoorDash for a deal worthUS $8.1 billion. On 31 May 2022, the acquisition was completed.
Before the DoorDash acquisition, Wolt raised $856M in funding from investors includingICONIQ Capital, Highland Europe,83North,EQT Ventures, Tiger Global,DST Global, Prosus,KKR,Coatue, Inventure, Lifeline Ventures,Supercellfounder & CEOIlkka Paananenand Nokia ChairmanRisto Siilasmaa, among others.
Wolt was ranked second in the 2020 edition of the FT:1000 Europe's Fastest Growing Companies 2020 published by theFinancial Times.
Wolt delivery drivers do not work for the company (except in Germany and Denmark) but are self-employed and can decide when, where and how much they work. As self-employed, couriers must pay all the incidental costs of their work, such as pension contributions, social security and tooling costs, out of the salary they receive. Their pension and sickness cover in Finland is typically provided through theYELinsurance (Entrepreneur's Pension Insurance), possible after 4 months, and obligatory by Finnish law after 6 months, if yearly YEL income is at least EUR 8,575.45.For example, when using a car, petrol, insurance and other costs are borne by the entrepreneur. As self-employed persons, couriers do not receive paid holidays. According to Wolt, about a third of the couriers are full-time. About a quarter are students. There is a significant proportion of immigrants in Helsinki, for example.
The German Hotel and Restaurant AssociationDEHOGA[de]recommends that restaurants in Germany should not participate in delivery services which, like Wolt, "intervene in the restaurants' own pricing policy" by "taking a provision of 30%". A self-organized delivery, DEHOGA says, would be a better option if possible. They also see it as dangerous that in the long run, through gaining all delivery data, these services may build up competing kitchens, serving the most-wanted dishes and leaving the restaurants empty-handed, which some services already do.