#DASH STOCK NYSE DRIVERS#
In June 2023, DoorDash announced it would give its drivers the option of earning an hourly minimum wage instead of being paid per delivery. In late November 2022, DoorDash announced plans to layoff 1,250 corporate employees, or about six percent of their workforce. In August 2022, DoorDash announced it would end its partnership with Walmart in September, ending the companies' cooperation agreement from 2018. This aspect of DoorDash's business practice is illegal in California. Louis, with the lawsuit claiming that DoorDash had listed them without permission, then prevented any orders to the restaurant from going through and redirecting customers to other restaurants instead, because Lona's was "too far away," when in reality it had not paid DoorDash a fee for listing.
The company was sued by Lona's Lil Eats in St. In May 2021, DoorDash was criticized for unauthorized listings of restaurants who had not given permission to appear on the app. In February 2021, 55% of DoorDash's drivers were women. By August 2022, the stock was trading at $82 per share. The price has seesawed from initial opening of $182 to a low of $112 in May 2021, a high of $257 in November 2021, to a new low of $58 in June 2022. On December 9, 2020, the company became a public company via an initial public offering, raising $3.37 billion. In November 2020, DoorDash announced the opening of its first physical restaurant location, partnering up with Bay Area restaurant Burma Bites to offer delivery and pick-up orders. In October 2020, the company launched its "Reopen for Delivery" program to have brick-and-mortar restaurants that have closed due to the COVID-19 pandemic partner with local ghost kitchen operators to offer food delivery- and pick-up-only service. That month, DoorDash became the fastest growing food delivery service. The company also said it had changed the default drop-off option to contactless delivery. In April 2020, during the COVID-19 pandemic, DoorDash announced it had "stockpiled tens of thousands of gloves and bottles of hand sanitizer" and was offering them to delivery drivers for free. īy June 2020, DoorDash had raised more than $2.5 billion over several financing rounds from investors including Y Combinator, Charles River Ventures, SV Angel, Khosla Ventures, Sequoia Capital, SoftBank Group, GIC, and Kleiner Perkins. In January 2020, it was reported that DoorDash had lied about skimming tips from its drivers, causing them to earn an average of $1.45 an hour after expenses, and that after the company had allegedly overhauled its tipping system, DoorDash was still manipulating per-delivery payouts at the expense of drivers. In October 2019, DoorDash opened its first ghost kitchen, DoorDash Kitchen, in Redwood City, California, with four restaurants operating at the location. It maintained that market position in 2019. By early 2019, DoorDash was the largest food delivery provider in the U.S., as measured by consumer spending. By March 2019, it had exceeded GrubHub in total sales, at 27.6% of the on-demand delivery market. In December 2018, DoorDash overtook Uber Eats to hold the second position in total US food delivery sales, behind GrubHub. It incorporated as DoorDash in June 2013. In the summer of 2013, it received US$120,000 in seed money from Y Combinator in exchange for a 7% stake. In January 2013, they launched in Palo Alto, California. In late 2012, Stanford University students Tony Xu, Stanley Tang, Andy Fang and Evan Moore were getting feedback on a mobile app for small business owners when a macaroon store owner told them of her challenges meeting demand for deliveries. As of December 31, 2020, the platform was used by 450,000 merchants, 20,000,000 consumers, and one million deliverers.
It also has a 60% market share in the convenience delivery category. With a 56% market share, DoorDash is the largest food delivery company in the United States. DoorDash has been criticized and sued for withholding tips, reducing tip transparency, antitrust price manipulation, listing restaurants without permission, and allegedly misclassifying workers. is a San Francisco based company that operates an online food ordering and food delivery platform.
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