Dordash Reveals IPO Filing – The New York Times

However, DoorDash is no longer burning through cache. In the first nine months of the year, its business generated $ 315 million in cash; In the same period of 2019, it consumed $ 308 million in cash.

Dordash faces labor questions due to the use of contractors. This month, the company registered a political victory With the passage of resolution 22, A California ballot exempted it, with Uber, Lyft, and others from a law requiring them to treat their drivers’ employees.

The company is dealing with steep competition and consolidation in food delivery, where customers, restaurants and drivers are not particularly loyal to a competitive service. DoorDash’s prospectus named the four major competitors and said its “fragmented and deeply competitive” market was a risk to investors.

In June, rival Grube agreed Sell ​​yourself Just eat for European service for just $ 7.3 billion. A month later, Uber Acquired postmates, A smaller competitor for $ 2.65 billion. Dordash negotiated the deal with Postmasters, Uber and Grubh last year, but remained independent.

As social discrimination rules continue, restaurants are Struggled To meet on delivery apps. In April, DoorDash temporarily cut its primary fees for independent restaurants, stating that it cost about $ 120 million. On Thursday, it Announced Pledge of $ 200 million for programs to assist restaurants and delivery drivers.

Dordash was created in 2013 in a business school class project at Stanford University by its chief executive, Mr. Xu, along with Stanley Tang, Andy Fang and Evan Moore. The company is struggling to attract critics and raise funds in its early days, Did not follow a smooth trajectory.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *