Understand that COVID decimated rideshare but I’m honestly surprised at DD’s 2.9 billion revenue compared to Lyft’s 2.3 billion. DoorDash has 1,000 fewer employees so the dollar to employee efficiency makes it even more impressive. If Lyft captures 45% of the market compared to Uber and still only generates 2.3B, DoorDash is making decent money no? I would think 45% market share in rideshare means a lot more revenue.
Doordash has a higher revenue per transaction. Food isn’t cheap.
They don’t count food price as the revenue, it is the money they take in that is revenue. Meaning someone orders a $30 dinner, it isn’t the $30 that is revenue. It is $6 (give or take depending on commission) that is revenue.
I didn’t say food price. I said food isn’t cheap. Anyway, another factor is the multiple deliveries per driver. It’s a lot faster than a 2-3 person trip that tend to be further than food deliveries.
People were not allowed to leave their homes to eat out and were forced into takeout/delivery if they wanted to eat from a restaurant. DD literally had the perfect market setup in 2020 and still found a way to lose money. I don’t know why you found this so surprising. This thing is being propped up by softbank and will crash post lockup expiration.
Most of it is ipo related costs and stock based compensation. Look at the same number in abnb - you would see the same (and even much much much higher) Plus look at the last reports company assets. (Hint - it’s a big number)
If people just took a minute to read, we won’t be explaining all this. What is more irritating is that they phrase this like they did a research. I just ignore them.
Lyft is finished imo. Ride sharing in general wasn't that profitable before and covid wrecked the market entirely. Uber can survive because it has other businesses (Uber Eats, Uber Freights). Lyft isn't diversified at all.
lyft is one of the worst companies of all time. they happened to be adjacent to space that exploded when uber came on the scene and again in right place/time as uber imploded circa 2017.. imbeciles “running “ the place.. shit product just a lot of reorgs, bs, and superiority complexes (remarkably). pissing away vc money and feeling 10ft tall. oh and lol5
lol5?
Level 5
Lyft is going to get wrecked. They’re not diversified, in terms of product, markets, or even thought processes. I interviewed at Lyft, pretty much got the “we’re cool, you’re shite” attitude. Cherry on top is the RSU policy. Lol. Just wait, they’re either gonna get wrecked or acquired. My money is on the later.