Corporate Profiles - 2024 - 64

COMPANY overview
DoorDash, Inc.
Move to digital orders drives growth
for 11-year-old company
D
oorDash, Inc., San Francisco, began as a
delivery service for restaurants in 2013.
Since then, the company has expanded
into delivery of groceries, alcohol, flowers and
other retail items, facilitating over 5 billion
consumer orders.
While inflation has reduced foodservice sales
recently, Tony Xu, co-founder and chief executive
officer, expects the digital age to continue
propelling DoorDash's growth.
" We're seeing really strong demand on the
consumer side, " he said in an Aug. 1 earnings
call to discuss second-quarter results. " So,
we're not actually seeing some of the challenges
that you may be hearing about or reading
closed at $230.18 per share on Nov. 15, 2021.
The price was hovering around $50 per share
in January 2023 but had rebounded to close at
$128.71 per share on Aug. 30, 2024.
Results for the second-quarter ended June
30 testified to DoorDash's growth. Total orders
increased 19% to 635 million from 532 million
in the previous year's second quarter while
revenue increased 23% to $2.63 billion from
$2.13 billion.
A net loss of $157 million compared with a
net loss of $170 million in the previous year's
second quarter.
Over the first six months of the fiscal year, a
net loss of $180 million compared with a net
loss of $331 million in the same time of the
previous year. Revenues jumped 23% to $5.14
billion from $4.17 billion. DoorDash now operates
in over 30 countries.
DoorDash and Wing in 2024 began a drone
delivery partnership in the United States, startChief
executive officer -
Tony Xu
about in other headlines. I think there are a few
reasons for this. I think, first, we're still in the
earliest innings of the move toward digital and
the overall omnichannel experiences that every
restaurant and retailer is participating in.
" And we're lucky to play in the part that is
growing. I mean if you looked at digital only,
that's growing not just for us at DoorDash on
our marketplace. It's also growing for us in our
first-party platform as we power a lot of these
restaurant and retailer websites for ordering as
well as their delivery channels. "
DoorDash thrived during the COVID-19 pandemic
as stay-at-home consumers ordered delivery.
The company's stock price on the Nasdaq
64 \ October 2024
ing with Wendy's in Christiansburg, Va.
" At DoorDash, we are committed to advancing
last-mile logistics by building a multimodal
delivery platform that serves all sides
of our marketplace, " said Harrison Shih, senior
director of DoorDash Labs, the company's robotics
and automation arm. " We're optimistic
about the value drone delivery will bring to
our platform as we work to offer more efficient,
sustainable and convenient delivery options for
consumers. "
The two companies previously launched a
drone delivery pilot program in Australia in
2022, which has expanded to three locations
in Queensland with over 60 participating merchants.
In
December 2023, DoorDash gave growth
figures over the company's first 10 years, including
over 600 million orders of fries delivered
since 2013.
Chicken quesadillas and mozzarella sticks
joined fries as the top three most popular food
items handled by the company. The top three
grocery orders over 10 years were bananas,
Roma tomatoes and strawberries. CP
DoorDash, Inc. net
income (loss)
in millions
2024
($558)
2023
($1,365)
2022
($468)
Source: DoorDash, Inc.
DoorDash, Inc. net revenue
in millions
2024
$8,635
2023
$6,583
2022
$4,888
Source: DoorDash, Inc.
DoorDash, Inc. share price
Sept. 4, 2024 = $125.14
$64
$86
$108
$130
$152
HIGH =
April 11, 2024 = $140.95
LOW =
Oct. 23, 2023 = $70.65
Sept. Nov.
2023
Jan.
2024
March M Julyay
Source: New York Stock Exchange
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Corporate Profiles - 2024

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