• DoorDash (NYSE: DASH) buys Wolt for about € 7 billion in shares; EQT Ventures and EQT Growth divest their holdings in Wolt and receive DoorDash shares as part of transaction
• EQT Ventures led Wolt’s early Series A funding round in 2016 and has since been a close partner and advisor to Wolt, having participated in all subsequent funding rounds. EQT Growth invests in Wolt’s latest $ 530 million funding round in January 2021
• Since its establishment in Finland in 2014, the Helsinki-based company has expanded to 23 countries and currently employs more than 4,000 people.

It was announced today that DoorDash (NYSE: DASH) has entered into a final agreement to acquire Wolt (the “Company”) for approximately EUR 7 billion in the entire share transaction. type. As part of the transaction, the EQT Ventures I Fund (“EQT Ventures”) and EQT Growth will divest their holdings in Wolt and receive shares in DoorDash. DoorDash is a technology company that connects consumers with their favorite local and national businesses in more than 7,000 cities in the United States, Canada, Australia and Japan. With the acquisition of Wolt, DoorDash will increase its significant international presence.

Woltin was founded in Helsinki in 2014 by CEO Miki Kuusi and the founders, whose vision was to create a truly technology-driven company that makes it easy and fun to find good food right at home or in the office. Wolt’s platform and data-driven delivery infrastructure provide customers with convenience and new revenue opportunities for both restaurants and retailers. It has grown rapidly and now operates in 23 countries and employs more than 4,000 people.

EQT Ventures was one of Wolt’s earliest investors and has been involved in all subsequent rounds of financing during which it has played a key role in supporting the company as one of Europe’s largest private technology companies. EQT Growth joined the journey in January 2021 as part of Wolt’s latest round of growth finance, showcasing EQT’s ability to “restore its winners” over time and the entire EQT platform. Today, EQT Ventures and EQT Growth together are Wolt’s largest shareholders.

Johan Svanström, a member of the advisory team of EQT Growth and a member of Wolt’s Board of Directors since 2018, and Lars Jörnow, a member of the advisory team of EQT Ventures and part of Wolt’s initial investment team when the fund led the Series A, commented: “We are excited to see Wolt and DoorDash join forces. EQT Ventures initially invested in a small, technology-minded and rough Finnish team looking for a practical and committed investment partner. Supported by our close collaboration and the venture capital investments of EQT Ventures and later EQT Growth, Wolt is today one of the most successful private technology companies in Europe. It has been a pleasure to support CEO Miki Kuus and the team in building and expanding the company, and we look forward to following them in the years to come. “

Miki Kuusi, CEO of Wolt, said: “The entire EQT platform has been critical to our growth and success in recent years. EQT Ventures was one of our earliest sponsors and has remained with us ever since. In 2021, we were pleased to welcome EQT Growth as part of the latest round of funding. Today, I am very excited to announce that Wolt will join forces with the DoorDash team to begin the next chapter.

The transaction is subject to regulatory approval and other standard closing conditions for this type of transaction. The value of DoorDash’s equity issued as part of the transaction will be $ 206.45 per share, based on DoorDash’s 30-day VWAP as of November 3, 2021.

DQ Piper was advised by EQT Ventures and EQT Growth.

EQT Press Office
[email protected], +46 8 506 55 334

DoorDash Investor Relations Liaison
[email protected]

DoorDash Press Contacts
[email protected]

Wolt Contact Us
[email protected]

Forward-looking statements
This notice contains forward-looking statements in accordance with section 27A of the Securities Act 1933, as amended, and section 21E of the Stock Exchange Act 1934, as amended. Forward-looking statements generally relate to future events, including the timing of a proposed transaction and other information related to the proposed transaction. In some cases, you may recognize forward-looking statements because they contain words such as “may”, “will”, “should”, “expect”, “plans”, “anticipates”, “may”, “intends”, “project”, “contemplating”, “believing”, “evaluating”, “predicting”, “potential” or “continue” or negative words of those words or other similar terms or expressions relating to the proposed trade and our strategy, plans or intentions . The forward-looking statements in this notice include, but are not limited to, (i) expectations about the timing, completion and expected benefits of the proposed transaction; (ii) plans, objectives and expectations regarding future operations, stakeholders and markets in which Doordash and Wolt and the combined entity will operate; (iii) the expected impact of the proposed transaction on the parties’ business. Expectations and beliefs related to these matters may not be met, and the actual results of the future financial years are subject to risks and uncertainties that could cause the actual results to differ materially from those forecast. These risks, uncertainties and other factors relate, inter alia, to the following risks and uncertainties related to our pending acquisition of Wolt, including failure to obtain or delay in obtaining the required regulatory approvals, failure to close the terms of the agreements. the proposed transaction in a timely manner or not at all and the costs and expenses associated with the closure failure; Costs, expenses or difficulties related to the acquisition of Wolt, including the integration of Wolt’s business; failure to realize the expected benefits and synergies of the proposed transaction within the expected timeframe or not at all; the potential impact of the announcement, waiting period or completion of the proposed transaction on our and / or Wolt’s employees, customers, suppliers and other business partners; the risk of litigation or regulatory action against us and / or Wolt; inability to retain executives; changes in legislation or regulations that affect us or Wolt; The evolution of the COVID-19 pandemic and the resulting business and operational implications for us and / or Wolt; and economic, economic, social, or political circumstances that could adversely affect us, Wolt, or the proposed transaction. For more information on other potential risks and uncertainties that could cause actual results to differ from the forecast results, see our Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Form 10-Qs or 8-See. filed with the Securities and Exchange Commission (“SEC”). All of the information provided in this Communication is as of the date of this Communication, and all forward-looking statements contained herein are based on assumptions that we believe are reasonable and the information available to us from that date. We are not obligated to update this information unless required by law.

No offer or request for quotation
This announcement is not an offer to sell or solicit an offer to sell the securities, and the sale of the securities may not be made in any jurisdiction where such an offer, offer or sale would be illegal prior to the registration or acceptance of the securities. the laws of any such jurisdiction. Securities may not be offered other than through a prospectus that meets the requirements of Chapter 10 of the U.S. Securities Act of 1933, as amended.

Important additional information will be provided to the SEC
DoorDash will file a registration statement with the SEC using Form S-4, which includes a DoorDash prospectus. INVESTORS ARE REQUESTED TO READ THE REGISTRATION STATEMENT AND OTHER DOCUMENTS SUBMITTED TO THE SEC CAREFULLY, AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE WWW MATOSTERMAT Investors may obtain free copies of the registration statement and other documents submitted to the SEC through the SEC’s website at www.sec.gov and on the DoorDash website at http://ir.doordash.com.

About EQT
EQT is a purposeful global investment organization with assets under management of over € 70 billion in 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with a combined turnover of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership

More information: www.eqtgroup.com
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About DoorDash
DoorDash is a technology company that connects consumers with their favorite local and national businesses in more than 7,000 cities in the United States, Canada, Australia and Japan. Founded in 2013, DoorDash enables local businesses to meet consumer expectations for ease and immediacy and thrive in today’s convenience economy. By building last mile’s logistics infrastructure for local commerce, DoorDash brings communities closer, one door at a time.

About Wolt
Wolt is a technology company that makes it incredibly easy to find and get the best local restaurants, grocery stores and other local stores delivered to your home or office. Wolt is in 23 countries. The Helsinki-based company was founded in 2014 and employs more than 4,000 people and is led by its co-founder and CEO Miki Kuusi.

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