DoorDash's Massive Losses
Emailed on December 6th 2019 in The Friday Forward
DoorDash, an on-demand food delivery firm most recently valued at $12 billion, plans to go public next year.
The Information reported this week that DoorDash expects to lose $450 million this year on ~$1 billion in revenue. That's... not good.
So next time you order food from your favorite delivery service and you wonder, "How can they do this for so little?" The answer is they can't.
In the age of VC frothicity (made that word up), it's never been a better time to be a customer. It seems one half of the internet has made a business out of selling $2 for $1, and as a customer, I don't hate it.