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14

About Tony Xu

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Latest Tony Xu News

DoorDash to acquire food delivery company Wolt

Nov 10, 2021

On-demand delivery giant DoorDash announced Tuesday it was acquiring food delivery company Wolt in an all-stock deal valued at €7 billion, or $8.1 billion. Talking about the acquisition, Tony Xu, co-founder and CEO of DoorDash said in a statement that the move “will accelerate our product development, bring greater focus to each of our markets and improve the value we provide to consumers, merchants, as well as Dashers and couriers around the world.” Finland-based Wolt was founded in 2014 by Miki Kuusi, who, upon the deal closing, will run DoorDash International and report to Xu. The company has over 4,000 employees across 23 countries and its technology enables users to easily discover and receive food via its platform by selecting a restaurant, placing the order and hitting send. Wolt has raised over $850 million to date, according to its Crunchbase profile . Its most recent funding round was $530 million in January, led by Iconiq Growth, with participation from Tiger Global, DST, KKR, Prosus, EQT Growth and Coatue. Wolt represents DoorDash’s sixth acquisition, according to Crunchbase data , and its second in 2021, which includes an acquisition of Chowbotics earlier this year. The latest transaction is expected to close in the first half of 2022. DoorDash was one of the benefactors of the global pandemic, managing to set records for orders and the value of those orders as reported in its second-quarter earnings for the three-month period ending June 30. However, the company was unprofitable overall with a net loss of $102 million for the quarter.

Tony Xu Investments

14 Investments

Tony Xu has made 14 investments. Their latest investment was in Ladder as part of their Seed VC - II on October 10, 2021.

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Tony Xu Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/28/2021

Seed VC - II

Ladder

$3.7M

Yes

2

10/20/2021

Seed VC

Open

$9M

Yes

2

10/12/2021

Series A

ResQ

$39M

Yes

4

8/26/2021

Series B

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$99M

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10

6/2/2021

Series A

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$99M

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10

Date

10/28/2021

10/20/2021

10/12/2021

8/26/2021

6/2/2021

Round

Seed VC - II

Seed VC

Series A

Series B

Series A

Company

Ladder

Open

ResQ

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Amount

$3.7M

$9M

$39M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

2

4

10

10

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