DoorDash plans to expand in 23 countries with its purchase of Finnish delivery service Wolt Enterprises.
San Francisco-based DoorDash announced the $8.1 billion deal Tuesday. Wolt Co-founder and CEO Miki Kuusi will run DoorDash International when the transaction closes.
The news came as DoorDash Inc. reported higher-than-expected third-quarter sales. Its shares jumped almost 9% in after-hours trading.
The delivery company said revenue grew 45% to $1.26 billion in July-September from the same period a year ago. That beat Wall Street’s forecast of $1.17 billion, according to analysts polled by FactSet.
The company said it had a record 9 million DashPass subscribers at the end of the quarter. DashPass members, who pay $9.99 per month for free deliveries on most orders, tend to order more frequently, the company said.
DoorDash’s net loss widened to $101 million for the quarter from $43 million a year ago, as it continued to spend heavily on expansion. The loss amounted to 30 cents per share. Wall Street had been forecasting a loss of 10 cents a share.