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☆ Uber and DoorDash warn of huge changes when New York City adopts its new $18 minimum wage for delivery workers
▼ + stars: | 2023-06-13 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +5 min

New York City announced a new law making $18 the minimum wage for delivery workers. "New York City is setting the tone for across America," Adams said during a press conference announcing the new minimum wage. Currently, most apps pay delivery workers, who are contractors and not employees, per order. DoorDash's spokesperson said many of its delivery workers are casual users who are supplementing income at their full- or part-time jobs. Grubhub, for its part, said the pay structure had "good intentions" but would have "serious adverse consequences for delivery workers in New York City."

Persons: Uber, —, Eric Adams, Adams, Josh Gold, Gold, DoorDash's, Gloria Dawson Organizations: York City, Service, New York City Department of Consumer, New Locations: York, York City, America, New York City, New York

☆ Uber's AI potential is making it stand out among its peers. Here's what that could mean for its stock.
▼ + stars: | 2023-05-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

All told, there is a nearly $6 trillion in revenue opportunity from AI across the internet industry, a March report from Morgan Stanley found. "UBER/LYFT/DASH already use ML [machine learning] in their matching algorithms (matching rides/eaters with drivers/couriers)," Morgan Stanley wrote in its report. AI tailwind for Uber Uber has both its ride-sharing service and UberEats food delivery business. According to Morgan Stanley, AI and machine learning will be a tailwind to network efficiency. "The extent to which AI drives substantial improvements in top-line growth could lead to teens upside [for the stock]," Morgan Stanley said.

☆ A lawsuit against DoorDash alleges what some users have long suspected: the company charges Apple users more than Android owners
▼ + stars: | 2023-05-19 | by ( Alex Bitter | Geoff Weiss | ) www.businessinsider.com time to read: +6 min

A proposed class-action lawsuit claims that DoorDash charges iPhone users more than Android owners. Building this trust is essential, and it's why the majority of delivery orders on our platform are placed by return customers. According to the lawsuit, "DoorDash charges the expanded range fee on iPhone users more often than Android users and charges iPhone users more for 'delivering' (likely because studies reveal iPhone users earn more)." Ross Hecox, Reid Hecox, US District Court for the District of MarylandIn other cases, iPhone users were charged a slightly higher delivery fee, according to the lawsuit. Others balked at the suit's claim that iPhone users were in a higher-income bracket and thus being charged higher fees.

San Francisco-based DoorDash now projects annual adjusted EBITDA, a measure of profitability, between $600 million and $900 million, compared to previous outlook of $500 million and $800 million. "Consumer demand and engagement are stronger than ever, which has fueled growth across our topline," said Chief Financial Officer Ravi Inukonda. In the first quarter, total orders rose 27% to 512 million, while analysts on average had expected a 20.8% rise to 488.2 million, as per Refinitiv data. On Tuesday, Uber Technologies (UBER.N) also said that it expected "strong growth" in its food delivery unit over the next few quarters, signaling demand resilience. DoorDash's revenue rose 40% to $2.04 billion in the quarter ended March 31, compared to analysts' estimate of about $1.93 billion.

☆ You'll soon be able to see which restaurants jack up their prices on DoorDash
▼ + stars: | 2023-04-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

The app will also designate restaurants that keep prices the same, Restaurant Business reported. Restaurants have tried to make delivery more profitable, but delivery services have pushed back. DoorDash is also adding a specification on its app when a restaurant's prices are the same through DoorDash and in-person, according to Restaurant Business. We understand that there may be many reasons why restaurants choose to raise their prices, but in our mission to improve the customer and merchant experience, we encourage restaurants to set prices on DoorDash that more closely reflect in-store menu prices." Restaurants have often raised prices on orders made through DoorDash and other delivery services to reclaim some of what they pay in commissions to these apps.

☆ DoorDash customers can now pay with cash for some pizza and other food deliveries just like in the old days
▼ + stars: | 2023-03-21 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

That policy changes this week with the launch of Cash on Delivery for DoorDash's white label delivery service, DoorDash Drive, DoorDash announced Tuesday. While Cash on Delivery is available to any restaurant using DoorDash Drive, DoorDash said pizza and Chinese restaurants have been early adopters of Cash on Delivery during testing. DoorDash said Cash on Delivery is only available for restaurants using DoorDash Drive because those merchants specifically requested a cash option as many customers expect flexible payment methods. "Customers coming to DoorDash expect to pay with credit card, opposed to with cash," DoorDash told Insider. As such, DoorDash said its white-label delivery service could be an attractive option for pizza operators looking for a delivery service that now also accepts cash.

☆ 3 things that will propel Uber's ad offering to become a $1 billion business, according to advertisers
▼ + stars: | 2023-02-24 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

The company is justifying its steep ad prices by pitching advertisers its first-party data that shows where people are and where they're going. Advertisers laid out why Uber's ads are so valuable, and how the company has been able to pull in their budgets. Uber's data-driven ad offering however isn't as compelling as what's offered by retail media competitors, like Walmart and Target. Uber has a new strategy to go after video ad budgetsUber also wants to corner a piece of the lucrative video advertising market. The tablet ad format is squarely aimed at video ad budgets.

☆ DoorDash stock pops after revenue beat, rosy guidance
▼ + stars: | 2023-02-16 | by ( Annie Palmer | ) www.cnbc.com time to read: +1 min

A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020. Shares of DoorDash jumped as much as 6% in extended trading Thursday after the food delivery company reported better-than-expected sales for the fourth quarter and gave upbeat guidance for the current period. For the current quarter, DoorDash said it expects marketplace gross order volume to be between $15.1 billion and $15.5 billion. DoorDash said in the quarterly earnings report that its president and COO Christopher Payne will retire from the company. Payne will be succeeded by DoorDash CFO Prabir Adarkar, who will take over the COO role effective March 1.

☆ DoorDash is headed to Super Bowl, pushing its on-demand grocery business again. Here are 7 key moves it is making to dominate retail delivery after conquering restaurants.
▼ + stars: | 2023-02-12 | by ( Nancy Luna | ) www.businessinsider.com time to read: +13 min

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.

☆ Dotdash Meredith's CEO explains why its $2.7 billion acquisition of Meredith has been tough as the ad industry gets creamed
▼ + stars: | 2023-01-24 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +2 min

CEO Neil Vogel said an ad market slowdown and culture challenges have been hard. IAC-owned Dotdash Meredith is about a year into its $2.7 billion acquisition of magazine giant Meredith, and a rough ad market has made the transition to become a big player for advertisers tough. "The market is hard," said Neil Vogel, CEO of Dotdash Meredith. Dotdash Meredith owns more than 40 brands including People, The Spruce, and Food & Wine. At the same time, the ad market soured last year as advertisers reigned in spending.

☆ A delivery driver's car was stolen with her kids inside — and it reveals the complicated reality of juggling gig work and childcare
▼ + stars: | 2022-12-23 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +4 min

A DoorDash delivery driver had her car stolen with her infant twins inside. The children were eventually found, but the frightening incident highlighted a reality for many gig workers — their kids come with them on deliveries. It is not uncommon for delivery drivers to bring children along for deliveries, and it is allowed under DoorDash's guidelines. Last year, a DoorDash delivery driver in Georgia had her car stolen with her 1-year-old daughter inside. In San Francisco, a DoorDash driver's car was also stolen with his children inside last year.

☆ Big Tech CEOs are asking employees to step up — or step aside
▼ + stars: | 2022-12-05 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Across the industry, tech CEOs are asking their employees to step up — or step aside. It's not just Elon Musk: Major tech CEOs are asking employees to step up or risk getting fired. After taking over at Twitter, Musk notoriously asked staffers to work "long hours at high intensity" or quit. But other tech CEOs from firms like Meta and Amazon have also been turning up the heat on employees. Here's what more tech CEOs are expecting.

☆ RBC downgrades DoorDash and cuts price target, citing slowing order growth 'too important to ignore'
▼ + stars: | 2022-12-02 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

There are a slew of factors weighing on DoorDash that have prompted RBC Capital Markets to downgrade the stock after a rough year. The firm slashed its rating to sector perform from outperform and lowered its price target on the delivery service to $60 from $70. The new target price represents roughly 5% upside to where shares traded at Thursday's close. Furthermore, RBC sees it as poised to decelerate further, which is not adequately priced into the stock. In addition, losses from various growth initiatives at DoorDash would need to come down significantly to be offset by cost cuts, according to the note.

☆ Here are Friday's biggest analyst calls: Apple, Amazon, Tesla, DoorDash, Disney, Zillow & more
▼ + stars: | 2022-12-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Piper Sandler reiterates Amazon as outperform Piper said it's "more positive on the out-year opportunity" after attending the most recent Amazon Web Services conference in Las Vegas. Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by shares of Apple and that it sees no evidence of demand destruction. Morgan Stanley reiterates Hostess as overweight Morgan Stanley said after a meeting with Hostess management that it sees multiple growth drivers for the maker of Twinkies. Morgan Stanley reiterates Rocket Lab as overweight Morgan Stanley said investors should buy the dip in shares of the space satellite company. Morgan Stanley reiterates FedEx as equal weight Morgan Stanley said it's staying cautious and has low visibility heading into FedEx earnings later this month.

☆ 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.

☆ This startup just hired a former DoorDash exec to bring robotic restaurant delivery to the masses
▼ + stars: | 2022-11-11 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

When it comes to amassing a large food-delivery footprint, the startup has hired a ringer in the delivery sector — the former DoorDash executive Prahar Shah. Serve's robots have the potential to be ubiquitous in our everyday lives, he said. This is "very similar to part of the playbook that we ran at DoorDash," Shah said. Most of Serve's restaurant partnerships have been with local restaurants in Los Angeles, such as Bossa Nova and Lala's Grill. As he approaches restaurant chains in his new role, he said most understand the necessity of automation.

☆ 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.

☆ The CEO of Barry Diller's IAC says they're on the hunt for new deals in media and tech as valuations have fallen: 'We're entering the reality period'
▼ + stars: | 2022-10-17 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Barry Diller's IAC is back on the hunt for deals as companies are seeing lower valuations. CEO Joey Levin said IAC has $1.5 billion to spend and plans to leverage a tough operating environment. "We're in that adjustment period entering the reality period," Levin told Insider in a September interview. In September, its combined Dotdash Meredith unit continued a multi-month string of pro forma revenue declines, posting a 24% decrease. We could still be right or wrong, but if we're right, we can create value," Levin said.

☆ Sequoia partner Jess Lee reveals 4 do's and don'ts for founders who hope to be selected for the firm's new ultracompetitive accelerator
▼ + stars: | 2022-09-19 | by ( Ben Bergman | ) www.businessinsider.com time to read: +5 min

Jess Lee, a Sequoia partner, shared tips for founders hoping to be selected for next year. The firm's first US Arc class is beginning its second week of a seven-week intensive course to help founders hone their startup business plans. It isn't enough to just have a great business idea, Lee said — the idea has to be in a market where there is the possibility of huge disruption and growth. "It's not easy to start a company," Lee said. "At seed and preseed it is so much about the story of who you are and why you had this insight," Lee said.

☆ Barry Diller's IAC is on the hunt for deals as company valuations fall and CEO Joey Levin sees opportunity in downturn
▼ + stars: | 2022-09-14 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Barry Diller's IAC is back on the hunt for deals as companies are seeing lower valuations. CEO Joey Levin said IAC has $1.5 billion to spend and plans to leverage a tough operating environment. In September, its combined Dotdash Meredith unit continued a multi-month string of pro forma revenue declines, posting a 24% decrease. With many company valuations having come down, Levin noted, IAC has the potential to bet on a broader array of businesses than it has before. We could still be right or wrong, but if we're right, we can create value," Levin said.

☆ This DoorDash hack used by local food-delivery couriers is saving restaurants big on delivery fees. Here's how it works.
▼ + stars: | 2022-09-02 | by ( Nancy Luna | ) www.businessinsider.com time to read: +8 min

That fee can be passed on to customers to save restaurants money. "The DoorDash self-delivery is a hack," Simmons, whose organization represents 550 local delivery operators in the US, said. And by deploying the self-delivery tactic with apps like Grubhub and DoorDash, restaurants can save even more money, Blum said. Colonel Delivery restaurants partners that use self-delivery can't pass on delivery fees to DashPass customers. But the "hack" is worth looking into if it can save restaurants from paying higher third-party delivery fees, he added.

☆ Gwyneth Paltrow attempts to eat a vagina-scented Goop candle in Super Bowl ad for Uber Eats' expanded retail offerings
▼ + stars: | 2022-02-12 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Uber Eats is announcing expanded consumer goods and convenience offerings in its Super Bowl ad. The ad marks a partnership with Goop and the launch of new retail hubs on the Uber Eats app. "Nearly three million consumers order essentials beyond food each month through Uber Eats," the company wrote in a blog post earlier this week. In tandem with the Super Bowl ad, Uber Eats is also launching themed retail hubs for the Super Bowl and Valentine's Day that feature curated items available for delivery through the app. This will be the second Super Bowl ad for UberEats, following a 2021 spot starring actors Mike Myers and Dana Carvey as their popular "Wayne's World" characters.

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