DoorDash Inc said on Tuesday it would buy Finland-based rival Wolt Enterprises OY in an all-stock deal valued at about 7 billion euros (US$8.09 billion), as the biggest U.S. food delivery firm expands into Europe.

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A pandemic-driven boom in demand for services offered by DoorDash and rivals is expected to ease in the coming months, but with most companies still losing money while seeking scale, the stage is set for a wave of consolidation.

DoorDash's deal would be one of the biggest yet in the space following Just Eat Takeaway.com US$7.3 billion acquisition of American rival Grubhub and Uber Inc's US$2.65 billion deal for Postmates Inc last year.

DoorDash's shares surged nearly 19per cent in after-market trading on the acquisition that helps the company enter 22 additional markets, including Germany, Serbia, Croatia, Denmark and Sweden, as well as a beat on third-quarter revenue.

Analysts have said DoorDash had been gearing up to launch in Germany and Mexico for some time now.

Wolt, since its first delivery in Helsinki, Finland, in 2015, has grown to expand in Europe and Asia and has over 30,000 restaurant and retail partners.

The company had more than 2.5 million monthly active users, as of Sept. 30, while DoorDash exited third quarter with over 9 million members using its subscription service.