INSIDER
DoorDash sees record orders and revenue in second quarter even as US restaurant traffic slows
Read full article: DoorDash sees record orders and revenue in second quarter even as US restaurant traffic slowsDoorDash set quarterly records for total orders and revenue despite slowing U.S. restaurant traffic.
Under pressure from cities, DoorDash steps up efforts to ensure its drivers don't break traffic laws
Read full article: Under pressure from cities, DoorDash steps up efforts to ensure its drivers don't break traffic lawsDoorDash says it’s stepping up efforts to identify dangerous delivery drivers and remove them from its platform after a flood of complaints from cities.
DoorDash posts better-than-expected Q1 sales but shares fall on cost concerns
Read full article: DoorDash posts better-than-expected Q1 sales but shares fall on cost concernsDoorDash reported higher-than-expected revenue in the first quarter as strong growth in U.S. grocery orders helped make up for slowing restaurant demand.
DoorDash orders and revenue beat Wall Street expectations despite disappointing net losses
Read full article: DoorDash orders and revenue beat Wall Street expectations despite disappointing net lossesDoorDash's revenues and orders exceeded expectations for the fourth quarter, although its net losses failed to shrink as quickly as Wall Street had hoped.
DoorDash orders surge 24% in the third quarter, helping to narrow the delivery app's losses
Read full article: DoorDash orders surge 24% in the third quarter, helping to narrow the delivery app's lossesDoorDash reported better-than-expected sales in the third quarter as it gained users and they ordered more frequently.
Officers help pregnant DoorDash driver finish delivery after car accident in Sterling Heights
Read full article: Officers help pregnant DoorDash driver finish delivery after car accident in Sterling HeightsLast week Bryanna Fantozi was on her way to make a delivery when she got into a crash, which left her car un-driveable. But officers stepped up and helped get that delivery where it needed to be.
DoorDash cuts 1,250 jobs after pandemic hiring surge
Read full article: DoorDash cuts 1,250 jobs after pandemic hiring surgeDelivery company DoorDash is eliminating more than 1,200 corporate jobs, about 6% of its total workforce, saying it hired too many people when demand for its services increased during the COVID-19 pandemic.
Family of slain DoorDash driver seeks justice after son shot, killed on the job in Detroit
Read full article: Family of slain DoorDash driver seeks justice after son shot, killed on the job in DetroitA cash reward is being offered for information as a family seeks justice in the fatal shooting of their son, who was killed in July while making a delivery in Detroit as a DoorDash driver.
DoorDash sees record orders in Q2 as it combines with Wolt
Read full article: DoorDash sees record orders in Q2 as it combines with WoltDoorDash has reported that it received a record number of customer orders in the second quarter, boosted by resilient demand and its acquisition of Finnish delivery service Wolt Enterprises.
DoorDash driver fatally shot in Detroit was just trying to do his job, neighbors say
Read full article: DoorDash driver fatally shot in Detroit was just trying to do his job, neighbors sayPolice are still looking for the person accused of fatally shooting a man who was delivering food Saturday as a DoorDash driver at a Detroit apartment complex.
Latest apps promise fast service but can they deliver?
Read full article: Latest apps promise fast service but can they deliver?Venture capitalists have poured billions into the latest pandemic delivery craze: companies that promise to get you a bottle of Tylenol, an iced coffee, hummus, a cucumber and a roll of paper towels.
Southfield woman used identities of others to make 35 fraudulent unemployment claims, officials say
Read full article: Southfield woman used identities of others to make 35 fraudulent unemployment claims, officials sayA Southfield woman has been charged for using other people’s identities to make more than 35 fraudulent unemployment claims, police said.
Food Gatherers to pilot grocery delivery program with DoorDash
Read full article: Food Gatherers to pilot grocery delivery program with DoorDashA grant will pay for an unlimited amount of hours for DoorDash personnel, called “Dashers,” to deliver orders from food pantries at Jewish Family Services and Hope Clinic.
DoorDash's technological know-how offers help to food banks
Read full article: DoorDash's technological know-how offers help to food banksBy offering its existing delivery platform technology to food banks for free, DoorDash, like a growing number of companies, is providing something that many nonprofits say is even more valuable than cash – knowhow.
DoorDash, Grubhub, Uber Eats sue NYC over price caps
Read full article: DoorDash, Grubhub, Uber Eats sue NYC over price capsThree of the nation’s largest food delivery companies are suing New York City over a limit on fees it put in place during the pandemic to protect restaurants devastated by the forced closure of their dining rooms.
DoorDash offers lower-priced delivery plans amid criticism
Read full article: DoorDash offers lower-priced delivery plans amid criticismDoorDash is launching lower-priced delivery options for U.S. restaurants, responding to criticism that the commissions it charges are too high for the beleaguered industry.
DoorDash's sales triple in Q4, but 2021 could see slowdown
Read full article: DoorDash's sales triple in Q4, but 2021 could see slowdownMeal delivery company DoorDash said its revenue more than tripled last year thanks to pandemic-driven demand, but it still lost money because it spent more heavily on marketing and expanding its business. DoorDash reported a net loss of $312 million for the quarter that ended Dec. 31, 2020. (AP Photo, File)Meal delivery company DoorDash said its revenue more than tripled last year thanks to pandemic-driven demand, but it still lost money because it spent more heavily on marketing and expanding its business. For the full year, DoorDash reported a net loss of $461 million. That was an improvement from 2019, but DoorDash __ which was founded in 2013 __ has never made a full-year profit.
Amazon, Cadillac score with Super Bowl ads
Read full article: Amazon, Cadillac score with Super Bowl adsNEW YORK – During this year's Super Bowl, the Tampa Bay Buccaneers reigned supreme on the field. Overall, this year's crop of Super Bowl ads focused on light humor that strove to entertain and connect. Bud Light Seltzer LemonadeBud Light used lemons as a metaphor for everything that went wrong in 2020 to introduce its new Seltzer Lemonade. Michelob was likely hoping to drive people to repeat views online with the celebrity lookalikes, but during the fast-moving Super Bowl the conceit was confusing. With its first-ever Super Bowl ad, Scott's was looking to keep that momentum going, but the overstuffed ad ended up being distracting.
The Latest: Robinhood's ad emerges from the time capsule
Read full article: The Latest: Robinhood's ad emerges from the time capsuleThe latest news on Super Bowl commercials. ___10 p.m.Smartphone-based stock market investment service Robinhood bought its Super Bowl spot in December after a successful year, unaware that it was about to make global headlines. Ad___9:45 p.m.Jeep starred iconic singer Bruce Springsteen in his first ever ad promoting the idea of unity. Most brands that have money to spend on Super Bowl ads are already household names, but the big game is also a chance for upstarts to make a big splash. ___7:15 p.m.General Motors used humor in a Super Bowl ad to promote its ambitious push to get more Americans to buy electric vehicles.
Blockbuster IPO market still calls for cautious approach
Read full article: Blockbuster IPO market still calls for cautious approachThe home sharing company raised $3.7 billion in the offering, making it the largest IPO of the year, according to Renaissance Capital. “This year had a lot of large IPOs,” said Matthew Kennedy, senior IPO market strategist at Renaissance Capital. Some 19 company IPOs have brought in over a billion dollars, including DoorDash and Airbnb. Still, individual investors may want to consider waiting a few days after a company has its IPO, if not longer. The Renaissance IPO ETF, which tracks an index that holds companies that have had an IPO within the last two years, giving more weight to bigger ones, is up 108% this year.
Blockbuster IPO market still calls for cautious approach
Read full article: Blockbuster IPO market still calls for cautious approachDoorDash shares surged nearly 86% above their offering price of $102 in their market debut Wednesday. Airbnb’s own market debut on Thursday could end up blowing past that. “This year had a lot of large IPOs,” said Matthew Kennedy, senior IPO market strategist at Renaissance Capital. Airbnb put off a market debut in the spring when the pandemic crippled global travel. Uber, which raised $8.1 billion in its market debut last year, has yet to get out of the red.
DoorDash delivers 86% gain in stock market debut
Read full article: DoorDash delivers 86% gain in stock market debutDoorDash shares soared in its initial public offering Wednesday, capping a year of explosive growth for the food delivery company. Powering that service are 1 million delivery drivers, who are independent and not considered DoorDash employees. But lockdown orders and the closure of indoor dining have made DoorDash indispensable for many restaurants and diners this year. DoorDash now controls 50% of the U.S. food delivery market. Skeptics thought the economics of food delivery would fall apart in less dense areas, because there was lower demand.
DoorDash sets share price at $102 ahead of Wednesday IPO
Read full article: DoorDash sets share price at $102 ahead of Wednesday IPODoorDash has priced its shares at $102 apiece heading into its stock market debut Wednesday, valuing the 7-year-old food delivery company at nearly $39 billion. The price was higher than the company's most recent target price of $90 to $95 a share, reflecting investor enthusiasm for the initial public offering. DoorDash reported revenue of $1.9 billion in the first nine months of 2020 alone. It now controls 50% of the U.S. food delivery market. In federal filings, DoorDash warned that its sales growth may not continue at the same pace once the pandemic subsides.
DoorDash looking for a valuation of nearly $30B
Read full article: DoorDash looking for a valuation of nearly $30BNEW YORK – DoorDash is looking for a valuation of nearly $30 billion when it takes itself public, reflecting how integral food delivery has become in millions of people’s lives during the pandemic. The company is planning to raise up to approximately $2.8 billion from an initial public offering of 33 million shares. It had a net loss of $667 million in 2019 and $149 million in the first nine months of 2020. The company did turn a profit of $23 million in the second quarter this year, but followed that with a $43 million loss in the third quarter. DoorDash Inc. will list on the New York Stock Exchange under the DASH ticker symbol.
DoorDash driver fatally shot while making delivery in NJ
Read full article: DoorDash driver fatally shot while making delivery in NJA DoorDash driver was shot and killed while making a delivery in New Jersey Friday night, authorities said. (WPIX)PATERSON, New Jersey (WPIX) - DoorDash driver was shot and killed while making a delivery in New Jersey Friday night, authorities said. Police responded to calls of shots fired in the intersection of Harrison Street and Rosa Parks Boulevard in Paterson just before 10:30 p.m. Petra Rhoden, 43, was found in the driver's seat of the vehicle with an apparent gunshot wound, cops said. According to authorities, Rhoden was making a DoorDash food delivery along Harrison Street when she was shot.
Doordash suffered a data breach that affected 4.9 million people
Read full article: Doordash suffered a data breach that affected 4.9 million peopleCNN Video(CNN) - DoorDash confirmed it suffered a data breach affecting roughly 4.9 million delivery people and merchants. In a blog post on Thursday, DoorDash said it noticed unusual activity from a third-party service provider earlier in September. After investigating the activity, it found an unauthorized third party was able to access DoorDash user data on May 4, 2019. The people affected joined DoorDash on or before April 5, 2018 people who joined after that date weren't affected, according to the blog post. DoorDash encouraged people to change their passwords, even if they weren't affected but were still concerned about the safety of their accounts.
Man says DoorDash delivery driver ate half his food
Read full article: Man says DoorDash delivery driver ate half his foodChris Payton of York County says he ordered food from Dickey's Barbecue in West Manchester Township using DoorDash -- a food delivery app that sends its own drivers to pick up orders from restaurants, delivering it right to your door. After the driver dropped off his food, he says he opened up the box and discovered half of it had been eaten. Payton says he believes the DoorDash delivery driver is to blame. "It's somebody's food you pay for that you expect to get it, you pay for a service," he added. Payton says even though DoorDash refunded him his money, he hopes the driver is reprimanded for their actions.