Some independent restaurants have been vocal critics of the company, saying its commissions - which can approach 30% - are too high. White says DoorDash also has the most variety in its listings, giving it less exposure to any one restaurant chain.
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But suburban families put in larger orders and drivers encountered more predictable traffic and parking so they could deliver more efficiently, Shmulik said.ĭavidson analyst Tom White, who has a “buy” rating on DoorDash’s stock, said the company’s strong market share gains and future possibilities, including grocery and retail delivery, outweigh the risk of slower growth once the pandemic subsides. Skeptics thought the economics of food delivery would fall apart in less dense areas, because there was lower demand. AP's earlier story follows below.ĭoorDash is capping a year of explosive growth with an initial public offering of its stock, hoping to keep the momentum going even if demand for food delivery eases in a post-pandemic world.ĭoorDash pulled ahead by concentrating on suburbs and smaller cities while its rivals stayed mainly in big cities, said Mark Shmulik, an analyst with Bernstein. The company hopes to keep the momentum going even if demand for food delivery eases in a post-pandemic world. That’s led to explosive growth for companies like DoorDash. Virus-induced lockdown orders and the closure of indoor dining have made meal delivery services indispensable for many restaurants and diners this year. The opening price valued the company which is trading under the symbol DASH, at around $58 billion. The shares opened at $182 after the San Francisco-based company priced them at $102 each late Tuesday. DoorDash shares soared 78% as the meal delivery service made its debut Wednesday on the New York Stock Exchange.
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