doordash

DoorDash exceeds projections in Q1 earnings, stock rises after hours

In its first earnings statement as a public company, issued on Feb. 25, DoorDash (NYSE: DASH) did not impress investors, despite setting quarterly records for total orders, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and market share. A doubling of the quarterly loss over Q4 2019 soured analysts.

In its second try as a public company Thursday, DoorDash again set quarterly records for total orders and marketplace gross order value (GOV), achieved an all-time...

https://www.freightwaves.com/news/doordash-exceeds-projections-in-q1-earnings-stock-rises-after-hours

Rite Aid joins same-day delivery crowd with DoorDash offering

Rite Aid adds same-day delivery with DoorDash

Rite Aid (NYSE: RAD)has joined the race for same-day delivery dominance, striking a deal with DoorDash (NYSE: DASH) to provide delivery of nonprescription health, convenience and wellness products. The items can be ordered through the DoorDash app or website for delivery from one of Rite Aid’s more than 2,100 locations in 17 states.

“At Rite Aid, we want our customers to have as many options as possible to shop our selection at nearby stores,” said Katie Finnegan, chief customer experience and...

https://s29755.pcdn.co/news/rite-aid-joins-same-day-delivery-crowd-with-doordash-offering

DoorDash adjusts pricing scheme, lowering some costs for restaurants

DoorDash lowers commissions for restaurants

Following weeks of criticism over its pricing, DoorDash (NYSE: DASH) has announced a new fee structure for restaurants using the service.

The delivery service will roll out three price points in its Partnerships Plans, starting with a 15% commission option. Pickup commission costs will be lowered to 6% and its Storefront online ordering platform will become free for all restaurants, with fees charged for payment processing only.

“There is a massive, increasingly digital opportunity for small...

https://s29755.pcdn.co/news/doordash-adjusts-pricing-scheme-lowering-some-costs-for-restaurants

Ghost kitchens staying power gets its first test

On Thursday, Just Kitchen Holdings Corp. (TSXV: JK), an operator of ghost kitchens in Taiwan, will make its public debut on the TSX Venture Exchange in Canada. The company believes it is the first ghost kitchen operator to debut on a North American stock exchange, but it also provides a first glimpse into the faith the markets have on a concept that has exploded since the onset of the COVID pandemic.

U.S. food delivery sales surpassed $19 billion in 2019, but that is just the start. Tracking...

https://s29755.pcdn.co/news/ghost-kitchens-staying-power-gets-its-first-test

Bringg platform democratizes third-party seller data

In 2020, e-commerce transactions skyrocketed to new heights as consumers opted for online shopping to protect their health. According to ACI Worldwide, a global leader in real-time digital payments, there was a 24% increase in year-over-year e-commerce transactions in December 2020 compared to 2019. With this increase — driven largely by the pandemic — retailers are beginning to experience issues with scaling their delivery services.

According to the Reuters Supply Chain Last Mile Report, only...

https://www.freightwaves.com/news/bringg-platform-democratizes-third-party-seller-data

DoorDash: Added fees are necessary to ensure service, pay Dashers

DoorDash adds new fees as municipalities cap charges

DoorDash (NYSE: DASH) has been accused of tacking on additional fees to service bills in some communities after at least 68 cities and towns have enacted laws that capped what the delivery service could charge local restaurants.

Those fees, DoorDash said, are necessary to ensure continued service for restaurants and payment for Dashers.

According to an NBC News report, DoorDash responded by adding new fees in 57 of the communities where the laws were passed. The NBC News report accelerated a...

https://s29755.pcdn.co/news/doordash-added-fees-are-necessary-to-ensure-service-pay-dashers

Will US Uber drivers benefit from UK reclassification decision?

Uber reclassifies UK drivers as workers

Uber’s (NYSE: UBER) decision on March 17 to reclassify approximately 70,000 Uber Rides drivers in the U.K. as “workers” — a step closer to what U.S. businesses would consider employees and away from the independent contractor category — was not unexpected, but it leaves plenty of unanswered questions for the rideshare community on both sides of the Atlantic.

The decision by the global ride-hailing giant followed a February ruling by the U.K. Supreme Court upholding a lower court’s decision that...

https://s29755.pcdn.co/news/will-us-uber-drivers-benefit-from-uk-reclassification-decision

Instacart may delay IPO until late 2021

After reportedly being prepped for an initial public offering (IPO) early in 2021, Instacart may be rethinking that plan.

According to a Thursday afternoon report by The Information, company executives are worried that buyers of its stock could be worried about the company’s fortunes once the pandemic is over and economies fully reopen. Because of this, the report said Instacart executives are now mulling over a late-2021 IPO.

“That will make it easier for investors to gauge how fast Instacart’s...

https://s29755.pcdn.co/news/instacart-may-delay-ipo-until-late-2021

COVID relief bill could trigger larger tax bills for gig workers

Gig workers and third-party sellers on e-commerce platforms such as Etsy, Walmart Marketplace (NYSE: WMT) and even Amazon (NASDAQ: AMZN) could find themselves with tax issues in 2022 thanks to a change in Internal Revenue Service tax codes contained within the American Rescue Plan Act of 2021.

The $1.9 trillion COVID relief bill that just passed the U.S. House and Senate and is expected to be signed into law by President Joe Biden by this weekend amends Section 6050W of the IRS code to require...

https://s29755.pcdn.co/news/covid-relief-bill-could-trigger-larger-tax-bills-for-gig-workers

Instacart may say no to an IPO

Instacart may skip IPO and sell direct to public

Grocery delivery app Instacart, which was expected to go public early in 2021 through an initial public offering (IPO), is now mulling alternative options, including a direct listing, according to a Reuters report.

Reuters said bankers that have worked Instacart’s potential listing believe it could be worth at least $50 billion. On Tuesday, Instacart announced the closing of a $265 million venture capital fundraise that valued the company at $39 billion. The round involved existing investors...

https://s29755.pcdn.co/news/instacart-may-say-no-to-an-ipo

+ More