DoorDash's Future: Expanding Beyond Restaurants into Local Commerce

DoorDash aims to be your local superstore by expanding beyond restaurants into diverse categories.

### DoorDash's Expansion: From Restaurants to Local Commerce Superstore
* 📈 DoorDash has evolved from focusing solely on restaurants to becoming a **comprehensive local commerce platform**, catering to various categories including **groceries and retail**.
* 🛍 The company aims to partner with every local store, aspiring to be recognized as the **neighborhood superstore**, which reflects the **increasing consumer demand across diverse categories**.
* 💰 For the first time as a public company, DoorDash has achieved **overall profitability**, emphasizing the importance of **scale in driving efficiency and profitability** in its business model.
* 🌍 Internationally, DoorDash is experiencing **rapid growth**, outpacing peers and gaining market share through **product innovation** and the successful launch of its subscription program, **World Class**.
* 🤝 The partnership with Lyft enhances the value of Dashpass, which has **over 18 million subscribers** who have collectively **saved over $10 billion globally**, while the focus remains on **improving the platform for continued growth**.
* 🏬 Local commerce is identified as a significant opportunity, with DoorDash leading in delivery services, providing consumers with **access to their favorite local stores**.
* 🌐 Operating in over 30 countries, DoorDash plans to expand its presence, focusing on **building the best products for consumers, merchants, and Dashers alike**.
* 🔍 The company's competitive edge lies in its commitment to **selection, quality, and affordability**, driving growth for merchants and establishing a strong consumer footprint with over **7 million Dashers earning more than $15 billion** in the past year.

Let's just focus on the future. Sure. So that was the story, right? What's happening is success in other business lines. But so many interested about this long-term future of DoorDash. You hinted there would be long-term investments in new areas. What are they? Sure. We started our business with restaurants as the core focus, but today we are so much more than restaurants. Consumers have hit an all-time high. More consumers are ordering from more categories. It's grocery, it's retail, it's Halloween costumes. We're partnering with every single store in your local neighborhood. Our goal is to be your local neighborhood superstore. Which areas are the most profitable? Potentially business lines for the app? The overall business has been profitable now for the first time as a public company. The way we think about it is we are trying to build scale in our business. Scale is the most important thing because scale drives efficiency, which

ultimately drives profitability in the business. If you look at our restaurants business that has been profitable for a few years, we're taking the profitability and building our new categories business as well as our international business. Let's just talk about international, because you made acquisitions there, and I'm interested as to how the consumers stack up, US versus international consumer right now, Ravi. Internationally seeing very good and strong growth. The growth has been substantially faster than peers. We are gaining share virtually in every country that we operate in. All of that is being driven by the underlying product innovation. Users are growing, order frequency is growing. We launched world Class, our subscription program in the international markets, and that's off to a flying start. What's interesting is you're doing partnerships here in the US with Lyft. How integral is that sort of a partnership for growing your user base, which of course your CEO is saying is still only a single-digit fraction of

the overall restaurant industry? We're excited by the partnership with Lyft. We think it's an opportunity for us to make Dashpass even more valuable. We have over 18 million plus subscribers that have saved over $10 billion globally. Partnerships like this make it a little bit more attractive, help our consumers save even more. But the core focus continues to be to improve the platform. That's where we see still the majority of the growth for us. You know, Ravi, combining ride-hailing with delivery of food and grocery sounds a lot like what Uber does. But there's an interesting analysis to be done of why you're thriving. But Uber also printed results that showed the consumer is a little bit tepid right now in the ride-hailing context in this gig economy world. Why is it that you're succeeding in the here and now? There's so much more than restaurants. I'll give you a small example.

Just a couple of months ago, we were running late for back to school. We used DoorDash for back to school supplies for both of our kids. Okay. We want to take away the worry of having a to-do list. We want DoorDash to be your local commerce to-do list. Local commerce is a large opportunity. Delivery is the most frequent use case. People eat at local stores. People order from local stores more than any other activity. And we are the leaders in that space. We are providing selection. We are bringing the best of local neighborhoods to your doorstep. Let's just talk a little bit more about the geography of where you want to be expanding. I mean, is it about spending power or geography when it comes to a deal like the one that we see with Lyft? And how do you then extrapolate that to potentially into National Geographic growth as well? We operate in over 30 countries.

An interesting thing is, even in all the countries that we operate in, we are not in all the cities. Our focus continues to be to build the best product possible, not just for consumers, but merchants as well as Dashers. We just announced a product suite called Commerce Platform for our Merchants, which continues to do really well. Even in the US, we are the fastest growing from a grocery perspective. We are gaining share compared to peers. Our goal is to expand to all things within local commerce, within all the countries that we operate in. You're a technology company. You just talk about your business. Why? Give me one reason why it helps you stand out. What? You're very good at that. Maybe others on the three legs to the stool of growth that we think about. It's selection, it's quality. It's affordability. It's not one or the other. It's a combination of all three things that consumers are looking and asking.

for. And we are driving same-store sales growth for merchants. Over 7 million Dashers have dashed with us in the last year, earning over 15 billion, and we are the fastest-growing from an overall consumer footprint perspective as well.

DoorDash Rises on First Operating Profit Since Pandemic

Welcome to the Bloomberg Technology YouTube channel. Subscribe for original series and mini-docs on game-changing technologies, profiles on innovators, live conversations with experts, and breaking technology news & analysis from Bloomberg TV.

Bloomberg Technology

DoorDash's Long-Term Future and Expansion

DoorDash is expanding beyond restaurants, aiming to become a local neighborhood superstore by partnering with various local stores.

The company's overall business has become profitable for the first time as a public company, with a focus on building scale to drive efficiency and profitability.

Internationally, DoorDash is experiencing strong and fast growth, gaining market share in every country of operation, driven by product innovation and a successful subscription program launch.

DoorDash is excited about its partnership with Lyft, aiming to enhance the value of Dashpass for its 18 million subscribers.

The company is focused on improving its platform and expanding into local commerce, offering delivery for various needs beyond just food.

With operations in over 30 countries, DoorDash is leveraging its leadership in local store deliveries to drive growth and potentially expand its geographic presence.

Focus on Local Commerce and Merchant Support

The company is not present in all cities but is focused on building the best product for consumers, merchants, and Dashers.

They have launched a successful Commerce Platform for Merchants and are the fastest growing in grocery in the US, gaining market share.

Their goal is to expand within local commerce in all operating countries, emphasizing a combination of selection, quality, and affordability to meet consumer needs.

Over 7 million Dashers have worked with the company in the last year, earning over $15 billion.

The company is driving same-store sales growth for merchants.

It is also the fastest-growing in terms of overall consumer footprint.