Welcome to our dedicated page for DoorDash news (Ticker: DASH), a resource for investors and traders seeking the latest updates and insights on DoorDash stock.
DoorDash, Inc. (NASDAQ: DASH), founded in 2013 and headquartered in San Francisco, is a leading online food order and delivery service that has significantly expanded its operations since its inception. Initially focused on enabling restaurant food delivery, DoorDash has grown to empower small business owners by offering delivery services in an affordable and convenient manner. The platform enables delivery in areas where it was previously unavailable, thereby opening up new markets for local businesses.
Consumers can use the DoorDash app to order food on-demand for pickup or delivery from a variety of merchants, primarily in the United States. The company's acquisition of Wolt in 2022 extended its service footprint to Europe, further solidifying its presence in the international market. DoorDash provides a marketplace where merchants can create an online presence, market their offerings, and meet customer demand by making their products available for pickup or delivery.
Beyond restaurants, DoorDash's services have expanded to include grocery stores, retail shops, pet supplies, and flower shops. This broad offering underscores the company's commitment to being a comprehensive local commerce platform. Recent partnerships, such as the exclusive deal with Academy Sports + Outdoors announced in June 2024, highlight DoorDash's ongoing efforts to diversify and enhance its service offerings. This partnership allows customers to order products from Academy's 285 stores across 19 states directly through the DoorDash app, with delivery times averaging under an hour.
DoorDash also offers DashPass, a membership program that provides benefits like $0 delivery fees and reduced service fees on eligible orders from various merchants. This program has been well-received, offering value and convenience to frequent users.
Financially, DoorDash continues to show robust growth, driven by its strategic expansions and partnerships. The company's mission to empower local businesses and meet the growing demand for convenient delivery solutions positions it as a significant player in the local commerce and food delivery sectors.
DoorDash (DASH) has released an independent survey titled 'How Online Grocery Delivery with SNAP Broadens Food Access Across the U.S.', highlighting the benefits of grocery delivery for SNAP recipients. Key findings include:
- 78% of SNAP recipients prefer using benefits for grocery delivery over in-store shopping
- 45% face transportation difficulties, 40% have busy work schedules, and 34% have caregiving responsibilities
- 93% say online grocery shopping saves time for other activities
- 61% feel self-conscious using SNAP benefits in-store, with 81% of those saying delivery reduces stigma
- 74% report buying more fruits and vegetables without increasing overall grocery spending
DoorDash also announced the expansion of SNAP/EBT payment capabilities to new merchants nationwide, including Cub, DashMart, Food Maxx, and others. Over 1.8 million consumers have added SNAP/EBT cards to DoorDash since its launch a year ago.
DoorDash Canada's first Community Impact Report reveals significant benefits for merchants, Dashers, and consumers. Key findings include:
- One in 10 local merchants say they wouldn't be in business without DoorDash
- 72% of businesses agree DoorDash improves their overall revenue
- 73% of consumers tried new restaurants through DoorDash, with 90% ordering again
- 97% of Dashers value the flexibility to choose when, where, and how they work
- 93% of consumers agree DoorDash reduces the burden of cooking when short on time
The report highlights DoorDash's role in fostering business growth, building customer loyalty, creating flexible earning opportunities, and making life more convenient for Canadians.
DoorDash (DASH) has unveiled the DoorDash Commerce Platform, a suite of new products designed to help merchants manage and grow their in-store and online businesses. The platform includes five core products: Drive On-Demand, Online Ordering, Phone Ordering, Tableside Order & Pay, and Customer Support Solutions.
Additionally, DoorDash introduced Online Ordering Mobile Apps, allowing restaurants to create their own branded native mobile apps. The company also reimagined its Business Manager App with expanded features to help merchants streamline daily operations and support growth.
These new offerings aim to empower local merchants to succeed in the digital world by providing tools to drive sales, improve operations, and build direct relationships with customers.
DoorDash and Magnolia Bakery have partnered to launch an exclusive new Banana Pudding flavor: Peanut Butter with Chocolate Chunks. This -edition treat is available only through the DoorDash app and not in Magnolia Bakery stores. Customers can order the pudding for on-demand delivery from local DashMarts across the country.
This collaboration marks a significant expansion for Magnolia Bakery, enabling the beloved brand to reach a nationwide audience through DoorDash's platform. The partnership leverages DashMart, DoorDash's fulfillment platform, to offer Magnolia Bakery's iconic desserts for delivery in as little as 30 minutes. This initiative showcases DoorDash's commitment to helping local and national businesses expand their reach and revenue through on-demand local delivery.
Starco Brands (OTCQB:STCB) has announced a collaboration between Whipshots, its vodka-infused whipped cream brand co-founded by Cardi B, and DoorDash to deliver the new -edition Pumpkin Spice Whipshots flavor. From August 22nd to 29th, customers ordering Pumpkin Spice Whipshots via DoorDash will receive a $5 coffee credit, enabling them to create their own Pumpkin Spiked Lattes at home.
Whipshots, containing 10% Alc./Vol, doesn't require refrigeration and aims to bring versatility to the spirits category. The partnership with DoorDash allows for delivery of Whipshots and coffee in as little as 40 minutes, offering consumers a convenient way to enjoy this fall-themed alcoholic treat.
DoorDash's Project DASH has achieved a significant milestone in Michigan, delivering over 1 million meals to residents in need. This accomplishment was celebrated by the Food Bank Council of Michigan, the Food Bank of Eastern Michigan, and State Rep. Jasper Martus. The event highlighted the importance of collaboration between different sectors to combat hunger.
Key points:
- Project DASH has delivered over 100 million charitable meals nationwide
- Michigan's seven Feeding America-affiliated food banks contributed to the state's milestone
- Home delivery is important in reaching community members unable to visit food pantries
- A 2023 Urban Institute report emphasizes the importance of home delivery in reducing barriers to food access
This initiative demonstrates the power of partnerships in addressing food insecurity and improving access to essential resources for vulnerable populations.
Mattress Firm and DoorDash have announced an exclusive partnership to offer same-day delivery of sleep products from over 2,300 Mattress Firm locations across the US. This collaboration is timed for the college back-to-school season, allowing students and parents to easily purchase mattresses, bedding, and sleep accessories through DoorDash.
As part of this initiative, Mattress Firm is recruiting 10 student brand ambassadors to promote the importance of quality sleep on college campuses. These ambassadors will receive free bedroom makeovers, host product giveaways, and provide exclusive promotions to classmates. Students can apply for this role at MattressFirmCollegiateSleepSquad.com from August 20-26, 2024.
Mattress Firm products will be available on DoorDash.com and through DashPass, DoorDash's membership program offering reduced fees on eligible orders.
Mattress Firm and DoorDash (DASH) have announced a groundbreaking partnership to offer on-demand, 2-hour delivery of mattresses and bedding accessories from over 2,300 Mattress Firm locations across the U.S. This collaboration aims to revolutionize mattress shopping by combining Mattress Firm's extensive product range with DoorDash's logistics network. Key benefits include:
- Nationwide on-demand delivery
- Inclusion in DashPass membership program
- Access to top mattress brands
- Real-time delivery tracking
The partnership is particularly beneficial for college students preparing for the upcoming academic year, addressing the need for quick and convenient furnishing solutions during move-in periods.
DoorDash (DASH) has partnered with Warner Bros. Discovery's streaming service Max to offer Max With Ads as a new benefit for DashPass Annual Plan members in the U.S. at no additional cost. This partnership provides a $240 annual value for $96/year, making it the first streaming service included with DashPass. Members can also upgrade to a Max Ad-Free subscription for $10.99/month.
The collaboration aims to enhance value for DashPass members, combining streaming and delivery services. DashPass Annual Plan members can now enjoy Max's content, including HBO Originals, Warner Bros. films, and exclusive upcoming releases. Since 2018, DashPass members have saved over $10 billion globally, with an average saving of $5 on every eligible order.
DoorDash (NASDAQ: DASH) reported strong Q2 2024 financial results, setting new records for Total Orders, Marketplace GOV, and revenue. Total Orders increased 19% Y/Y to 635 million, while Marketplace GOV grew 20% Y/Y to $19.7 billion. Revenue rose 23% Y/Y to $2.6 billion, with Net Revenue Margin improving to 13.3%. The company's GAAP net loss narrowed to $158 million, compared to $172 million in Q2 2023. Adjusted EBITDA reached a record $430 million, up from $279 million in Q2 2023. DoorDash expanded its international presence, added new merchants, and improved consumer retention rates. The company's outlook for Q3 2024 projects Marketplace GOV between $19.4-$19.8 billion and Adjusted EBITDA of $470-$540 million.
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