Wolt

Wolt is a Finnish technology company known for its food delivery service. Founded in 2014, the company operates in over 23 countries and 100 cities, providing a platform for customers to order food and other products from local restaurants and stores.

History

Miki Kuusi, a former CEO of Slush, co-founded Wolt in 2014. The company initially started as a food delivery service in Helsinki, Finland. It has since expanded its operations to several countries across Europe, Asia, and North America.

Business Model

Wolt operates on a platform business model, where it connects customers, restaurants, and delivery partners. Customers place orders through the Wolt app, which are then prepared by the restaurants and delivered by the delivery partners. Wolt earns revenue through delivery fees and commissions from the restaurants.

Funding and Valuation

Wolt has raised several rounds of funding from investors such as Iconiq Capital, 83North, and Inventure. As of 2020, the company's valuation was over $1 billion.

Criticism and Controversy

Wolt has faced criticism for its treatment of delivery partners, with allegations of poor working conditions and low pay. The company has also been accused of contributing to the gig economy, which is often associated with precarious employment.

See Also

• Food delivery
• Platform business model
• Gig economy