Press Release November 10, 2021

Wolt to be Acquired by DoorDash for €7 Billion

The Technology and Private Equity teams advised 83North, EQT, ICONIQ Growth and certain other investors in Wolt Enterprises OY (“Wolt”), in connection with the sale of Wolt, to DoorDash (NYSE: DASH) in an all-stock transaction valued at approximately €7.0 billion, subject to customary purchase price adjustments. The transaction, which is expected to close in 1H 2022, is subject to customary closing conditions for transactions of this kind, including applicable regulatory approvals. The board of directors of each company has approved the transaction, and stockholders representing the majority of Wolt's outstanding shares have committed to support the transaction.

83North is a global venture capital firm with over $1.8 billion under management. The firm invests across all stages, in exceptional entrepreneurs whose focus is to build global, category-leading companies.

EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees.

ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive global impact and change. ICONIQ Growth’s portfolio of innovators includes Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt and Zoom, among others.

Wolt is a technology company that makes it incredibly easy to discover and get the best of local restaurants, grocery stores and other local shops delivered to your home or office. Wolt is in 23 countries. The Helsinki-based company was founded in 2014, employs over 4,000 people, and is led by its Co-Founder and CEO, Miki Kuusi.

The Goodwin team was led by Paula Nagarajan, William Weiss and Bill Schnoor and included Ilan Nissan, Jonathan Scott, Leilani Lipa and Jacob Herman.

For additional details on Wolt’s acquisition, please read the press release.