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☆ 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.
☆ DoorDash to lay off 1,250 corporate employees
  + stars: | 2022-11-30 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +1 min
CNN —DoorDash on Wednesday said it will lay off about 1,250 corporate employees after growing its team too quickly during the pandemic, making it the latest tech company to cut staff in recent weeks. Like other tech companies, DoorDash experienced a pandemic boom as more consumers embraced online deliveries and shied away from stores and restaurants amid the health crisis. In his memo, Xu nodded to the shifting economic climate. “We too are not immune to the external challenges and growth has tapered vs our pandemic growth rates,” he wrote. Shares of DoorDash are down more than 60% so far this year.
☆ DoorDash puts profit on the menu
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, Nov 30 (Reuters Breakingviews) - DoorDash (DASH.N) is taking the same route as its technological peers. Top-line growth, which has been the main course at DoorDash and elsewhere, will be relegated to a side dish. Costs also ballooned, however, and DoorDash accumulated a $3.2 billion deficit from operating losses as of Sept. 30. DoorDash has outpaced rival Uber Technologies (UBER.N), growing its U.S. market share to roughly 60%, per consumer data analyst Bloomberg Second Measure. The strong position should help Xu tweak the menu and serve up what investors are ordering.
☆ Stocks making the biggest moves midday: CrowdStrike, Horizon Therapeutics, Petco and more
  + stars: | 2022-11-30 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
Otherwise, CrowdStrike beat estimates on the top and bottom lines in its most recent quarterly results. Petco — Shares of Petco jumped 12% after reporting third-quarter revenue that was slightly above Wall Street estimates. Workday — Shares of Workday jumped 12% after the company posted earnings results Tuesday that beat Wall Street expectations. Though earnings beat Wall Street estimates, revenue came up short. Biogen — Shares rose more than 3% after a new study on Biogen and Eisai's experimental Alzheimer's drug showed promising results.
☆ DoorDash CEO Tony Xu on earnings beat: We are seeing resilient delivery demand
  + stars: | 2022-11-04 | by ( ) 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 on earnings beat: We are seeing resilient delivery demandDoorDash CEO Tony Xu joins CNBC's 'Squawk Box' to break down the company's third-quarter earnings report, which beat Wall Street's expectations on Thursday.
☆ Watch CNBC's full interview with DoorDash CEO Tony Xu on earnings
  + stars: | 2022-11-04 | 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 Xu on earningsDoorDash CEO Tony Xu joins CNBC's 'Squawk Box' to break down the company's third-quarter earnings report, which beat Wall Street's expectations on Thursday. Xu also breaks down how the company is preparing for a potential recession and its competition with other delivery services such as Uber Eats.
☆ DoorDash Analysts Optimistic on the Firm's Grocery and Retail Growth
  + stars: | 2022-11-02 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +5 min
Expanding selection has made DoorDash resilient as restaurant-delivery growth declines and recession worries grip consumers, analysts say. "DoorDash's greater selection, convenience, and value are proving resilient," Andrew Boone, a JMP Securities analyst, said in a note earlier this year. Last month, DoorDash surpassed 75,000 retail stores on its platform, up from 40,000 a year ago. DoorDash opened the first DashMart in 2020, and the convenience stores have grown to 25 locations in cities in the US and Canada. "DoorDash is going to strangle Instacart using their own system," the grocery and supply-chain consultant Brittain Ladd told Insider.
☆ DoorDash is making 7 keys moves to dominate retail and grocery delivery after conquering restaurants — and creating new rivals in Instacart and Gopuff
  + stars: | 2022-10-27 | by ( Nancy Luna | ) www.businessinsider.com   time to read: +12 min
In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. DoorDash has leaned heavily into grocery, convenience-store, and retail delivery since launching these expanded services in 2020. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.
☆ DoorDashers earning close to $25 an hour when delivering, says CEO
  + stars: | 2022-09-20 | by ( ) 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 EmailDoorDashers earning close to $25 an hour when delivering, says CEOTony Xu, DoorDash co-founder and CEO, joins 'TechCheck' to discuss the company's recent deals, how inflation is affecting the business and the labor force impact on DoorDash.
☆ DoorDash salaries revealed: see how much engineers, managers and dozens of other employees at the rapid delivery platform make
  + stars: | 2022-06-23 | by ( Diamond Naga Siu | Tom Dotan | ) www.businessinsider.com   time to read: +2 min
Ever wonder how much DoorDash pays engineers or statisticians? DoorDash salary data was disclosed in visa applications, so we dug through filings. The data does not include stock grants that can significantly increase total compensation, but it is a valuable guide to DoorDash salaries for a variety of positions. Insider dug through the dozens of disclosed salaries that represent engineers, managers, and more. Here's a breakdown of what DoorDash pays many other employees.
Persons: Tony Xu, DoorDash Organizations: of Foreign Labor, Big Tech, Apple, Facebook, Microsoft Locations: California, Washington, New York
☆ I tried the popular weight-loss app backed by Tony Xu and Scooter Braun. Keeping the weight off was harder than expected.
  + stars: | 2021-05-25 | by ( Lisa Rabasca Roepe | ) www.businessinsider.com   time to read: +10 min
Noom is a weight-loss app that uses a psychology-based approach to change your eating habits. One writer tried Noom for eight months to shed some pounds and prevent pandemic weight gain. In my latest attempt to lose weight, I turned to the Noom app. Lisa Rabasca RoepeI imagine that this is a powerful exercise for someone who has more than 10 pounds to lose. In fact, I've noticed that the people who have the most weight to lose have the most success with Noom.
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