![]() ![]() “I think the world only tends to want to go faster. But he said he remains confident in the company's long-term plans. In a letter to investors Wednesday, DoorDash Co-Founder and CEO Tony Xu said the company may continue to post losses as it invests in new delivery partnerships, international markets and advertising. The results reported Wednesday didn’t include Wolt’s contribution. Inukonda said that higher-than-expected loss was due to the cost of absorbing employees from Wolt Enterprises, the Finnish delivery service DoorDash acquired in the second quarter of 2022. The company lost 44 cents per share, which was higher than the 41 cent per-share loss Wall Street forecast, according to FactSet. DoorDash offered summer deals to its DashPass customers and worked to gain share overseas.ĭoorDash narrowed its net loss to $172 million in the second quarter, from a loss of $263 million in the same period a year ago. Research and development costs were up 30% for the quarter, while marketing costs rose 12%. Still, DoorDash _ which has never earned an annual profit _ continues to invest heavily in other areas. ![]() And a newly launched system that lets drivers choose whether to make an hourly rate or be paid by delivery could also help retain drivers. Inukonda said college students are helping boost the company's driver ranks in the summer. The company spent less than it expected on acquiring and retaining delivery drivers. And the company said improved logistics are helping driver efficiency. Inukonda said innovation _ including making it easier for customers to search for products on the DoorDash app _ is another reason the company continues to gain market share in all the markets in which it operates. The company won’t reveal how many DashPass subscribers it currently has, but said it had 15 million at the end of last year. That’s what’s driving growth in the business.”ĭashPass subscribers _ who get most deliveries free for a $9.99 monthly fee _ rose to a new high during the quarter, Inukonda said. “This is a small treat that still delights people. “We have become more of a utility and habit,” Inukonda said. The company delivered more than 200,000 flower orders during Mother's Day week. ![]() Deliveries from sporting goods stores, pet stores and florists are also driving growth. The 10-year-old company still delivers primarily from restaurants, but added grocery delivery in 2020 and convenience store delivery in 2021. ![]() *2.9% of the total transaction amount + $0.DoorDash Chief Financial Officer Ravi Inukonda said the company is continuing to see growth in users and those customers are ordering more frequently. We hire the best and expect the best from our team.Ĭredit card processing: With the exception of Storefront (where you only pay a credit card processing fee* with no additional commissions, monthly fees or per-order fees), all DoorDash offerings include credit card processing, so you have less to worry about when it comes to overhead expenses. Technology platform costs: It takes a world-wide, world-class logistics, engineering, coding, marketing, and operations team to keep the DoorDash app and website, our Merchant Portal and tablet, and our Dasher app running. When something goes wrong with an order, we have a 24/7/365 team of people ready to help solve customer issues, so they’ll continue to order from your business. Learn more about the Dasher Community at Dasher Central.Ĭustomer service and support for consumers, merchants, and Dashers: Customers, business owners, and Dashers all have unique needs that often need addressing immediately. Here are some of the items they cover:Īdvertising and marketing: Being on the DoorDash app puts your business in front of new customers every day.ĭelivery driver costs: We empower our community of Dashers, who make every delivery possible, by providing them flexible earning opportunities with competitive local pay, promotional pay, 24/7 support, third party insurance, and exclusive discounts. DoorDash charges fees and commission rates to bring value to your business and community. ![]()
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