Is DoorDash’s Earnings Sucess Because of the Pandemic?
Bloomberg Technology’s Emily Chang discusses DoorDash earnings with CEO and co-founder Tony Xu. Market watchers say that the company’s strong growth in the food delivery sector is due to the pandemic. Now they are wondering how long the company will continue earning good profits as the pandemic wanes. Xu wants his team to remain faithful to their business basics to stay strong even after the pandemic. As a positive sign, the company’s U.S. restaurant business has grown over 250 percent in the past years. Xu observes that even as people are more relaxed about eating out, they will still want to get home delivery too. So, food delivery services have become a common household phenomenon for most consumers. Nevertheless, DoorDash consumers are facing an increase in gas prices and inflation. So, Xu is planning to address that by facilitating cashback offers and long-distance bonuses.
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