Doordash Takes Huge Bite Out of Competition with Nearly 300% Increase in Purchases, Say Emburse Expense Data

LOS ANGELES & PORTLAND, Maine–(BUSINESS WIRE)–To mark national Hamburger Month (celebrated each May) Emburse, a global leader in spend management solutions, analyzed transaction data from almost three million meal purchases to discover which food and restaurant brands corporate America’s employees visit the most. The results can be found in the latest SpendSmart report. “The huge increase in both …

DeliverThat Eclipses $100 Million in Food Delivered

Canton, OH  (RestaurantNews.com)  DeliverThat, a national last-mile delivery service recognized as the industry leader in restaurant catering delivery and setup, announced today that they have surpassed $100 million dollars in food delivered. “I always knew we were going to make an impact on peoples’ lives, but never to this magnitude,” said Darien Terrell, President & CEO. …

3 Red Flags in DoorDash’s Q1 Report

Food delivery company DoorDash (DASH 5.49%) released its latest quarterly results on May 5. The good news was the business continued to generate strong growth with revenue rising 35% year over year to $1.46 billion. The company is incentivizing its Dashers less A key metric DoorDash reports is “gross order value” (GOV) on its marketplace, which represents the total …

Olo Announces First Quarter 2022 Financial Results

NEW YORK–(BUSINESS WIRE)–Olo Inc. (NYSE:OLO), a leading open SaaS platform for restaurants that enables digital hospitality at every touchpoint, today announced financial results for the first quarter ended March 31, 2022. “In the first quarter, Olo’s revenue and profitability momentum continued, as we took meaningful strides towards enabling digital hospitality. Our platform supported year-over-year growth …

Waitr posts $77M loss in first quarter of 2022 due to $67M ‘goodwill impairment’ tied to stock price

Delivery app Waitr posted a loss of more than $77 million in the first quarter of 2022, though it attributed a $67 million chunk of the shortfall to a “goodwill impairment” tied largely to its paltry stock price, according to the company’s latest earnings report. For comparison, the Lafayette-based delivery app posted a $3.7 million loss …

Uber CEO vows to be ‘hardcore about costs,’ slow down hiring in memo to employees

Uber CEO Dara Khosrowshahi vowed to rein in costs at the ride-hailing company in the face of a “seismic shift” in the financial market, according to a memo sent to employees that was first reported by CNBC. The effort to reduce spending is in response to the dramatic upheaval in the labor market that has Uber scrambling …

DoorDash’s sales soar in Q1 but its costs also grow

DoorDash sales soared in the first quarter as it added new customers, putting to rest any question of whether delivery demand will continue as the pandemic wanes. The San Francisco company said its revenue jumped 35% to $1.46 billion in the January-March period. That was well ahead of Wall Street’s forecast of $1.38 billion, according …

DoorDash: Ignore The Lack Of Meaningful Operating Leverage At Your Own Peril

Summary DoorDash is an interesting company which has grown at a breath-taking speed and built an impressive two-sided platform. The biggest problem we see with DoorDash is lack of operating leverage and the fact that there is no clear path to profitability at the moment. In addition, there is the issue of decelerating revenue growth …

Uber continues its recovery from the pandemic lull but loses $5.6 billion from investments

Uber on Wednesday reported strong growth in its ride-hailing and delivery businesses and said it was continuing to bounce back from a pandemic slump, even as it lost $5.6 billion because of its investments in other ride-sharing companies, primarily the Chinese service Didi. The company reported $6.9 billion in revenue for the first three months …

Uber lost $6 billion to start the year, but reports a rebound in ride-hailing and no issues with driver supply

Uber Technologies Inc. lost billions of dollars in the first quarter mostly due to its investments, but beat analysts’ estimates as it reported results earlier than planned Wednesday morning. Uber UBER, -4.65% shares, which fell 9.1% in morning trading and were on track for their biggest one-day drop since sinking 10.7% on June 11, 2020, closed the regular …