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Meta said Wednesday that Broadcom CEO president Hock Tan and philanthropist and former Enron executive John Arnold are joining the company's board of directors. Tan has been leading the semiconductor giant since 2006, giving him extensive international experience working in computing infrastructure technology. "As we focus on building AGI, having directors with deep expertise in silicon and energy infrastructure will help us execute our long term vision," Meta CEO Mark Zuckerberg said in a statement. The technical backgrounds of the incomers contrast with former Meta operating chief Sheryl Sandberg, who recently said she would step down from the company's board. Tan and Arnold join a board that includes former PayPal Executive Vice President Peggy Alford, venture capitalist Marc Andreessen, Dropbox CEO Drew Houston, former U.S. deputy secretary of the treasury Robert M. Kimmitt and DoorDash CEO Tony Xu.
Persons: Meta, Hock Tan, John Arnold, Tan, Mark Zuckerberg, Sheryl Sandberg, Sandberg, Zuckerberg, Arnold, Peggy Alford, Marc Andreessen, Drew Houston, Robert M, Tony Xu, Meta's Ray Organizations: Broadcom, Enron, Meta, Google, Arnold Ventures, Grid United Locations: Houston, U.S
Sheryl Sandberg says she's leaving Meta's board
  + stars: | 2024-01-17 | by ( Jonathan Vanian | In | ) www.cnbc.com   time to read: +4 min
Former Meta operating chief Sheryl Sandberg is leaving the company's board of directors. "With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May," Sandberg wrote in a Facebook post on Wednesday. Sandberg, 54, joined Facebook in 2008 as Mark Zuckerberg's top deputy after spending about seven years at Google. Since leaving Meta, Sandberg has dedicated much of her time on her LeanIn.org nonprofit, which focuses on empowering women tin the workplace, and related projects. "Thank you Sheryl for the extraordinary contributions you have made to our company and community over the years," Zuckerberg wrote.
Persons: Sheryl Sandberg, Sandberg, Mark Zuckerberg's, Javier Olivan, We've, Sandberg's, Zuckerberg, Sheryl, Adam Bosworth, Peggy Alford, Marc Andreessen, Drew Houston, Nancy Killefer, Robert M, Tony Xu, Tracey T, Travis, Estée Lauder, Here's, Javi Olivan, Justin Osofsky, Nicola Mendelsohn, Mark Organizations: Meta, Facebook, Google, CNBC, McKinsey & Company, Estée Locations: U.S
Cramer's Lighting Round: Buy Boeing
  + stars: | 2023-11-28 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Stock Chart Icon Stock chart icon CRISPR's year-to-date stock performance. Stock Chart Icon Stock chart icon Dell's year-to-date stock performance. Stock Chart Icon Stock chart icon Cencora's year-to-date stock performance. Stock Chart Icon Stock chart icon T-Mobile's year-to-date stock performance. Stock Chart Icon Stock chart icon Boeing's year-to-date stock performance.
Persons: it's, Mike Sievert, Cardinal Health's, Tony Xu, Tony Organizations: Dell, Mobile, Boeing, Cardinal Locations: Cardinal
DoorDash shares jump 16% on guidance, narrowing net loss
  + stars: | 2023-11-02 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +2 min
DoorDash shares jumped over 16% Thursday, a day after the company beat Wall Street's top- and bottom-line expectations. The company reported $2.2 billion in revenue, ahead of the $2.1 billion analysts were expecting, according to LSEG, formerly known as Refinitiv. It posted a loss per share of 19 cents, beating the consensus expectation of a loss per share of 40 cents. DoorDash reported a net loss of $73 million, an improvement from the $295 million net loss, or a loss of 77 cents per share, it reported in the year-ago quarter. DoorDash also reported 543 million total orders, up 24% year over year from 439 million orders, though that's down from the 27% growth in the year-ago quarter.
Persons: Tony Xu, DoorDash, Wall, Xu, haven't Organizations: DoorDash Inc, Street, Tech, JPMorgan, U.S ., CNBC PRO Locations: Laguna Beach , California, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoorDash CEO Tony Xu: Our advertising business has grown very quicklyTony Xu, DoorDash CEO, joins 'Closing Bell Overtime' to talk consumer behavior trends, the impact of inflation on the app and more.
Persons: Tony Xu
DoorDash said on Thursday that it will transfer its listing from the New York Stock Exchange to the Nasdaq, a potential blow to the NYSE. "We are delighted to join a community of leading technology companies with our transfer to Nasdaq," DoorDash Chief Financial Officer Ravi Inukonda said in a statement. The NYSE has been attempting for years to secure more tech company listings and gain share against the Nasdaq. DoorDash initially began trading on the NYSE in December 2020, with a price of $182 per share. Its debut came at a popular time for tech IPOs, within months of the IPOs of Airbnb , Roblox and Wish , the discount marketplace.
Persons: Tony Xu, DoorDash, Ravi Inukonda, University of Florida's Jay Ritter, DoorDash's, Instacart Organizations: DoorDash Inc, Street, Tech, New York Stock Exchange, Nasdaq, NYSE, University of Florida's, Cloud, Big Board Locations: Laguna Beach , California
DoorDash is seeing a surge in non-restaurant orders from new customers, including grocery and flower deliveries. The delivery company has 100,000 retail stores on its app, surpassing Instacart's 80,000 merchants. The company said more new customers are turning to the app for non-restaurant orders as DoorDash has grown its retail selection to more than 100,000 stores. In July, online grocery sales dropped 7% to $7.2 billion compared to July 2022 , according to the latest monthly Brick Meets Click/Mercatus Grocery Shopping Survey. Driving the downturn was delivery sales, which decreased 13.3% to $2.6 billion , according to the July survey released August 9.
Persons: Tony Xu, DoorDash, Xu, Grubhub, Uber, It's, Petco, Staples, Brittain Ladd, Instacart, confidentially Organizations: Service, Albertsons, Aldi, Target, Walgreens, Dollar Locations: Wall, Silicon, Stanford, PetSmart, North America
DoorDash CEO Tony Xu discussed his company's earnings with CNBC's Jim Cramer on Wednesday, highlighting its revenue, which topped Wall Street estimates. DoorDash, a delivery service company, reported earnings after the bell and posted $2.13 billion in second-quarter revenue, higher than the $2.06 billion analyst consensus estimate, according to FactSet. Xu added the company saw significant losses during the pandemic when it cut commissions for local restaurants struggling to stay in business. The company's net loss narrowed to $172 million during the second quarter from $263 million a year earlier. We are still on offense, we are still in investment mode, we want to build the biggest sized business for the long run."
Persons: Tony Xu, CNBC's Jim Cramer, Xu
Jim Cramer goes one-on-one with DoorDash CEO Tony Xu
  + stars: | 2023-08-02 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Jim Cramer goes one-on-one with DoorDash CEO Tony Xu'Mad Money' host Jim Cramer goes one-on-one with DoorDash CEO Tony Xu to talk quarterly results, consumer behavior and more.
Persons: Jim Cramer, Tony Xu
DoorDash CEO Tony Xu: Our numbers speak for themselves
  + stars: | 2023-08-02 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoorDash CEO Tony Xu: Our numbers speak for themselves'Mad Money' host Jim Cramer goes one-on-one with DoorDash CEO Tony Xu to talk quarterly results, consumer behavior and more.
Persons: Tony Xu, Jim Cramer
Uber drives further up the road to redemption
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +2 min
Uber branding is seen on private hire vehicle parking rank at Chopin Airport in Warsaw, Poland, March 22, 2023. NEW YORK, Aug 1 (Reuters Breakingviews) - Uber Technologies (UBER.N) Chief Executive Dara Khosrowshahi is shifting the ride-hailing company into a higher gear, but investors are lagging behind. Uber shares fell almost 6% on Tuesday morning, taking some of the shine off a stock that has almost doubled since the beginning of the year. Khosrowshahi remains some way from his destination on the road to redemption. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Dara Khosrowshahi, Lyft, Tony Xu, Jennifer Saba, Aston Martin, Steve Cohen, Peter Thal Larsen, Sharon Lam Organizations: Chopin, NEW, Reuters, Technologies, Twitter, Thomson Locations: Warsaw, Poland, DoorDash, Khosrowshahi, Japan, India
If you're applying for a job, it may seem like all there is to it is making sure your resume reflects the language of the job description, your cover letter explains why you want the position, you've had multiple people read both — and then, finally, you've sent in all of your material. While those are all crucial steps in the job application process, there is one more step that comes after applying which "everyone fails on," says Nolan Church former Google and DoorDash recruiter and the current CEO of Continuum, a talent marketplace for executives. That's following up the application with a message on LinkedIn and a personalized email to the company hiring manager and even its CEO. Even if the company you're applying to is Amazon and you're sending an email to Andy Jassy, do it, Church says. Here's how to go about writing these messages and why he thinks they're critical.
Persons: you've, Nolan, Tony Xu, Andy Jassy Organizations: Nolan Church, Google, Continuum Locations: DoorDash
Ten years ago, DoorDash launched a local delivery service from a Stanford dorm room. 1 food delivery operator in the US. Here are 10 big milestones for the on-demand delivery provider of groceries and restaurant meals. "Ultimately, our vision is to build the local, on-demand Fedex," DoorDash wrote in an October 2013 Medium post. The company started with food delivery but has since expanded to offer on-demand delivery of groceries, beauty supplies, and convenience store goods.
Persons: DoorDash, Tony Xu, Evan Moore, Stanley Tang, Andy Fang, Grubhub, Uber Organizations: Stanford, Service, Fedex Locations: Wall, Silicon, Stanford
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoorDash CEO Tony Xu on new hourly pay offering: We're giving delivery drivers flexibilityDoorDash co-founder and CEO Tony Xu joins 'Squawk Box' to discuss the most significant app revamp in company history, including changes to how delivery workers get paid, and more.
Persons: Tony Xu
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoorDash CEO on Q1 growth, inflation impact, worker demand and AI plansTony Xu, DoorDash CEO, joins 'Closing Bell: Overtime' to discuss the company's earnings beat, seeing stronger demand in labor market to be a 'dasher' and plans for artificial intelligence.
"We believe this will allow all of our businesses to become more agile, enhance their business decision-making, and respond faster to market changes," CEO Daniel Zhang told investors. "Alibaba Group will be in the nature of a holding company that is the controlling shareholder of the business group companies," Zhang said. When asked about the timeline of Alibaba's restructuring, Zhang said the "strategy and business planning for the business groups will commence immediately." CFO Tony Xu said separating Alibaba's entities would allow it to determine the performance of each business. "We believe that the market is the best litmus test so each business group company can pursue independent fundraising and IPOs as and when they are ready after going public," he said.
Watch CNBC's full interview with DoorDash CEO Tony Xu
  + stars: | 2023-02-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with DoorDash CEO Tony XuDoorDash co-founder and CEO Tony Xu joins Deirdre Bosa on CNBC's TechCheck to discuss the company's fourth quarter results and full year guidance.
In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Editor's note: On Sunday, DoorDash is airing its second Super Bowl commercial to promote its grocery delivery business. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.
Like Cabinet Health, Cuban's company Cost Plus Drugs offers generic drugs at a fraction of the cost charged by major pharmaceutical companies. Cuban put those instincts to work on Friday's episode of ABC's " Shark Tank ," when the billionaire told sustainable wellness company Cabinet Health's founders he was suspicious of their lack of profit. Cabinet Health, which launched in October 2019, wants to reduce and eventually eliminate single-use plastics in medicine. The co-founders entered negotiations seeking $500,000 for a 2.5% stake in Cabinet Health, which would value the company at $20 million. He offered $500,000 for 10% of Cabinet Health, which would value the company at $5 million.
DoorDash laid off 1,250 employees on Wednesday to help cut costs. Insider spoke to a worker who was let go and needed to find a new job before their visa expired. The email said DoorDash is reducing the size of its workforce and that my role was one of those being impacted by layoffs. I have an H1B visa and you can only hold that when you have a job. Because of the visa situation, I am under pressure to find a job quickly and it's a huge mental struggle.
DoorDash Cuts Staff by 1,250 to Rein in Costs
  + stars: | 2022-11-30 | by ( Will Feuer | ) www.wsj.com   time to read: 1 min
DoorDash says its business remains strong and more resilient than other e-commerce companies. DoorDash Inc. is cutting corporate staff by about 1,250, or 6% of head count, as the food-delivery company works to rein in costs after a pandemic-fueled growth spurt, according to an internal memo from Chief Executive Tony Xu . “We were not as rigorous as we should have been in managing our team growth,” Mr. Xu said in the memo, which was viewed by The Wall Street Journal. “That’s on me. As a result, operating expenses grew quickly.”
DoorDash cuts 1,250 jobs to control ballooning costs
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +2 min
Nov 30 (Reuters) - DoorDash Inc (DASH.N) said on Wednesday it was cutting about 1,250 jobs, or 6% of its total workforce, as the food-delivery company looks to keep a lid on costs to cope with a slowdown in demand. As a result, operating expenses grew quickly," Chief Executive Tony Xu said in a memo to employees that was posted on the company's website. "Given how quickly we hired, our operating expenses - if left unabated - would continue to outgrow our revenue." read moreWhile DoorDash's Xu reiterated that the business has been more resilient compared with other e-commerce companies, he said reducing non-headcount operating expenses "wouldn't close the gap." DoorDash, which closed an all-stock deal this year with Wolt, has total headcount of about 20,000.
DoorDash Inc. said it is laying off around 1,250 people just weeks after offering a bullish outlook for its food-delivery business, extending a run of tech companies that have abruptly reversed course on hiring in recent months after blistering growth during the pandemic. Chief Executive Tony Xu said the cuts, equivalent to 6% of DoorDash employees, were the most difficult announcement in the company’s close to 10-year history.
DoorDash lays off 1,250 employees
  + stars: | 2022-11-30 | by ( Rohan Goswami | ) www.cnbc.com   time to read: +1 min
Tony Xu, co-founder and chief executive officer of DoorDash Inc., smiles during the Wall Street Journal Tech Live conference in Laguna Beach, California, U.S., on Tuesday, Oct. 22, 2019. Delivery service DoorDash is laying off 1,250 corporate workers as part of a continued cost-cutting effort, driven by tapering growth and overhiring, CEO Tony Xu said in a message to employees on Wednesday. 1, a decision that Xu told employees would give them "as much time possible to find a new job." DoorDash will set a termination date of March 2023 for H1-B visa holders, allowing overseas workers as much time as possible to find a new opportunity. DoorDash shares are down over 60% year-to-date.
DoorDash cuts 1,250 jobs to rein in costs
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: 1 min
Nov 30 (Reuters) - Food delivery service DoorDash Inc (DASH.N) said on Wednesday it was cutting about 1,250 jobs in a bid to reduce costs in the face of a global economic slowdown. The company joins a list of multinational American firms that have laid off employees in recent weeks due to rising operating costs amid decades-high inflation. "We were not as rigorous as we should have been in managing our team growth ... That's on me. As a result, operating expenses grew quickly," said Chief Executive Tony Xu in a message to employees posted on the company's website. Reporting by Granth Vanaik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
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