Company Overview

DoorDash (NASDAQ: DASH) is one of the world's leading local commerce platforms that helps businesses of all kinds grow and innovate, connects consumers to the best of their neighborhoods, and gives people fast, flexible ways to earn. Since its founding in 2013, DoorDash has expanded to over 30 countries, using technology and logistics to shape the future of commerce.

DoorDash, Inc., together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.

The company's mission is to grow and empower local economies. This ambition encompasses the vast duration and surface area of their work, recognizing its importance to merchants, consumers, and Dashers in the communities they serve.

Market Position and Valuation

As of September 2025, DoorDash has a market capitalization of $112.24 Billion USD, ranking it as the world's 174th most valuable company according to our data. The company was formerly known as Palo Alto Delivery Inc. and officially changed its name to DoorDash, Inc. in 2015. Founded in 2013, DoorDash, Inc. is headquartered in San Francisco, California.

Financial Performance

Q4 2024 and Full Year 2024 Results

DoorDash delivered exceptional financial performance in 2024, marking several milestones:

Key Q4 2024 Highlights (ended December 31, 2024):

- Total Orders increased 19% year-over-year (Y/Y) to 685 million.

- Marketplace Gross Order Value (GOV) increased 21% Y/Y to $21.3 billion.

- Revenue increased 25% Y/Y to $2.9 billion.

- Net Revenue Margin increased to 13.5% from 13.1% in Q4 2023.

- GAAP net income (loss) attributable to DoorDash, Inc. common stockholders was $141 million, compared to $(154) million in Q4 2023.

- Adjusted EBITDA increased to $566 million from $363 million in Q4 2023.

- Operating cash flow was $518 million and Free Cash Flow was $420 million.

Full Year 2024 Achievements:

- Revenue grew 24% Y/Y.

- Generated the first full year of positive GAAP net income.

- Helped generate nearly $60 billion in sales for local merchants in over 30 countries.

- Facilitated over $18 billion in earnings for Dashers.

- Generated $123 million of net income attributable to DoorDash, Inc. common stockholders.

- Achieved $1.9 billion of Adjusted EBITDA.

Q3 2024 Performance

In Q3 2024, DoorDash drove Total Orders up 18% Y/Y, revenue up 25% Y/Y, net income attributable to DoorDash, Inc. common stockholders to $162 million, and Adjusted EBITDA up 55% Y/Y to $533 million. This quarter marked the first time the company generated positive GAAP net income as a public company.

Q1 2025 Continued Growth

In Q1 2025, DoorDash generated new quarterly records for Total Orders, Marketplace GOV, revenue, and GAAP net income.

Business Operations and Services

The company offers membership programs, including DashPass and Wolt+, and DoorDash Drive On-Demand and Wolt Drive, which are white-label delivery fulfillment services. DoorDash also provides services that help merchants establish online ordering, build branded mobile apps, enable tableside order and pay, and enhance customer support.

It operates DoorDash and Wolt marketplaces, providing an array of services that enable merchants to solve mission-critical challenges such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support. Services include DashPass and Wolt+ (membership products), DoorDash Drive and Wolt Drive (white-label delivery fulfillment), DoorDash Storefront (enabling merchants to offer consumers on-demand e-commerce), and Bbot (offering merchants digital ordering and payment solutions for in-store and online channels).

Strategic Focus and Growth Initiatives

In 2024, the company improved unit economics in its U.S. restaurant category, U.S. new verticals categories, and international marketplaces. These efficiency improvements, coupled with growing scale, allowed DoorDash to increase investments across its business to build new and better products, expand selection, improve quality, and reach more consumers in more places.

Over the last year, DoorDash improved delivery quality, reduced average delivery times, and increased selection on its Marketplaces. The company operates in a highly competitive industry but focuses on meeting consumer expectations. To create value for merchant partners, Dashers, and the business, DoorDash must build services that delight consumers, ensuring they continue to choose their Marketplaces and order more over time.

International Expansion

Through the acquisition of Wolt in 2022, DoorDash also provides its services in Europe and Asia. DoorDash creates a marketplace for merchants to establish an online presence, market their offerings, and meet demand through delivery. The firm provides similar services to non-restaurant businesses, including grocery, retail, and pet supplies.

DoorDash has established itself as a dominant force in the global logistics and commerce platform space, demonstrating consistent growth in orders, revenue, and profitability while expanding its services beyond traditional food delivery into new verticals and international markets.