Good morning. If Americans treated their post-Thanksgiving Day exhaustion with take-out this weekend, there’s a good chance they ordered from DoorDash. The meal delivery giant now controls 60% of the market in the U.S and is more than twice the size of its closest competitor, Uber Eats. It wasn’t always that way. In a new Fortune feature, tech correspondent …
Continue reading “DoorDash CEO Tony Xu outmaneuvered Uber Eats by obsessing over his customer”
Zhong Xu, CEO and co-founder of Deliverect, is no stranger to the restaurant industry. His entrepreneurial journey began at the young age of 17, building websites and developing POS solutions for Asian restaurants. This early exposure ignited a passion for technology’s potential to transform the food sector, a passion that would eventually lead him to co-found …
Continue reading “Spotlight Interview: Zhong Xu, CEO and Co-Founder of Deliverect”
The business school version of why DoorDash won is that they had the right strategy. They launched in the right markets, acquired the right restaurants, and designed the marketplace the right way. The Silicon Valley hustle culture version is that they out-executed everyone else. They just shipped faster until they had better selection, a better …
Caviar, a food delivery company, was launched by five friends from the University of California, Berkeley in 2012, at a time when no other food delivery app existed. Its founder, Shawn Tsao, along with his best friends took the company to a $410 valuation when they sold it to rival DoorDash, per CNBC. How Was Caviar …
Toast’s first backer, Steve Papa, invested in the company because no venture capital firm would write the initial check. By the time Bessemer Venture Partners led the first institutional round in 2015, the company had millions in revenue, 170 employees and was deployed in thousands of restaurants. “We intentionally chose not to put reps in …
