DoorDash, Inc.
DoorDash, Inc., together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and dashers in the United States and internationally. The company operates DoorDash Marketplace, Wolt Marketplace, and Deliveroo Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support. It also offers consumer membership programs, DashPass, Wolt+, and Deliveroo Plus; advertising as a value-added service through its marketplaces; and white-label delivery fulfillment services, as well as services that help merchants establish online ordering, build branded mobile apps, manage reservations and in-store dining, manage consumer relationships, enable tableside order and pay, and improve customer support. The company was formerly known as Palo Alto Delivery Inc. and changed its name to DoorDash, Inc. in 2015. DoorDash, Inc. was founded in 2013 and is headquartered in San Francisco, California.
What does it do?
DoorDash is the app you open when you want Chipotle delivered to your couch. You place an order, a 'Dasher' (a gig worker driving their own car) picks it up, and it arrives at your door — usually within 30-45 minutes. DoorDash doesn't just do restaurants anymore: it also delivers groceries, pet supplies, and alcohol. Through its acquisitions of Wolt (Europe and Middle East) and Deliveroo (UK and international markets), it now operates in over 40 countries.
DoorDash controls roughly 67% of the US food delivery market, making it the clear dominant player in a space most Americans use regularly — that kind of market share is rare and hard to dislodge. After years of losing money, the company just turned profitable in 2024, which is the moment investors have been waiting for: proof that the business model actually works at scale. With international expansion accelerating and new categories like grocery delivery growing fast, the story is shifting from 'can they survive?' to 'how big can they get?'
How does it make money?
DoorDash makes money primarily by charging restaurants and other merchants a commission (typically 15-30%) on every order placed through its platform. Consumers also pay delivery fees and optional tips, and many subscribe to DashPass (roughly $10/month) for free delivery — over 20 million people currently pay for this. A fast-growing third leg is advertising: merchants pay DoorDash to appear higher in search results or run promotions, which is high-margin revenue similar to how Amazon charges brands to advertise on its site. Revenue grew from $10.7B to $13.7B in one year — about 28% growth — showing the model is scaling quickly.
Why do investors care?
The exciting part for investors is that DoorDash is still in early innings internationally: Wolt and Deliveroo give it a foothold in dozens of markets where food delivery hasn't yet become a daily habit for most people. Advertising revenue is the real prize — every time a merchant pays to promote their listing, DoorDash earns money without any driver, car, or delivery involved, which could make the whole business far more profitable over time. For the bull case to play out, DoorDash needs to keep growing order volumes, convert more users to paid DashPass memberships, and expand its advertising business the way Amazon did with AWS — turning an online store into a profit machine.
Deep Dive
MemberA full investor briefing on DoorDash, Inc. — history, leadership, risks, and outlook.