Doordash, Inc. (Dash): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde rapide de la livraison de nourriture numérique, Doordash a révolutionné comment des millions de consommateurs affamés commandent des repas avec seulement quelques robinets sur leurs smartphones. En connectant ingénieusement les restaurants, les chauffeurs de livraison et les clients via une plate-forme technologique sophistiquée, la société est passée d'une startup en un 50 milliards de dollars Leader du marché qui perturbe les expériences culinaires traditionnelles. Cette plongée profonde dans le canevas des modèles commerciaux de Doordash révèle les stratégies complexes et les approches innovantes qui ont propulsé l'entreprise au premier plan de l'écosystème de livraison de nourriture à la demande, offrant une commodité et un choix sans précédent aux consommateurs modernes.

Doordash, Inc. (Dash) - Modèle commercial: partenariats clés

Chaînes de restaurants et restaurants locaux

Au quatrième trimestre 2023, Doordash s'est associé à plus de 750 000 emplacements de restaurants et de dépanneurs à travers les États-Unis, le Canada, l'Australie et le Japon.

Catégorie de partenaire	Nombre d'emplacements	Couverture du marché
Chaînes de restaurants nationaux	5,000+	90% des 100 meilleures marques de restaurants
Restaurants indépendants locaux	385,000+	Marchés urbains et suburbains

Épiceries et dépanneurs

Doordash a des partenariats stratégiques avec les grandes chaînes d'épicerie et de dépanneurs.

• Walmart: partenariat couvrant plus de 5 000 emplacements de magasins
• Albertsons: 2 200 emplacements d'épicerie
• CVS Pharmacie: 9 900 magasins de commodité

Conducteurs de livraison (entrepreneurs indépendants)

En décembre 2023, le réseau de livraison de Doordash comprend:

Catégorie de pilote	Nombre total	Dasters actifs mensuels moyens
Entrepreneurs indépendants	2,2 millions	1,5 million

Provideurs de technologie et de cartographie

Les partenariats technologiques clés comprennent:

• API Google Maps pour le routage
• Amazon Web Services (AWS) pour l'infrastructure cloud
• Stripe pour l'intégration de la technologie de paiement

Plateformes de traitement des paiements

Les partenariats de traitement des paiements de Doordash comprennent:

Fournisseur de paiement	Volume de transaction (2023)	Pénétration du marché
Bande	14,5 milliards de dollars	Passerelle de paiement primaire
Paypal	3,2 milliards de dollars	Option de paiement secondaire

Doordash, Inc. (Dash) - Modèle commercial: activités clés

Développement de la plate-forme de livraison de nourriture

Doordash exploite une plate-forme technologique avec les spécifications techniques suivantes:

Métrique de la plate-forme	2024 données
Total des utilisateurs de la plate-forme	66 millions d'utilisateurs actifs
Téléchargements d'applications mobiles	45 millions de téléchargements totaux
Investissement de développement de la plate-forme	412 millions de dollars de dépenses de R&D annuelles

Restaurant et marchand intégré

Métriques du réseau de restauration:

• Total des partenaires des restaurants: 570 000
• Couverture géographique: 7 000+ villes
• Taux de commission moyen: 25 à 30% par commande

Acquisition et rétention des clients

Métrique client	2024 données
Coût d'acquisition des clients	36 $ par nouveau client
Utilisateurs actifs mensuels	21 millions
Taux de rétention de la clientèle	48% de fréquence de commande répétée

Optimisation de l'itinéraire et logistique

Métriques de performance logistique:

• Temps de livraison moyen: 35 minutes
• Réseau de livraison: 2 millions + dasters
• Volume des commandes quotidiennes: 1,6 million de commandes

Amélioration de la technologie et de l'algorithme

Investissement technologique	2024 données
Budget technologique annuel	687 millions de dollars
Modèles d'apprentissage automatique	127 algorithmes prédictifs actifs
Demandes de brevet	68 brevets technologiques déposés

Doordash, Inc. (Dash) - Modèle commercial: Ressources clés

Application mobile et Web avancée

Au quatrième trimestre 2023, l'application mobile de Doordash a été téléchargée 39,4 millions de fois. La plate-forme soutient plus de 7 500 villes à travers les États-Unis, le Canada, l'Australie et le Japon.

Métriques de la plate-forme	Valeur
Total des téléchargements mobiles	39,4 millions
Villes servies	7,500+
Pays opérationnels	4

Grand réseau de chauffeur

Doordash compte environ 2 millions de dasters actifs en 2023. La plate-forme traite plus de 1,7 milliard de commandes annuelles.

• Dashers actifs: 2 millions
• Volume de commande annuel: 1,7 milliard
• Utilisateurs actifs mensuels moyens: 32 millions

Analyse des données et capacités d'apprentissage automatique

Doordash a investi 362 millions de dollars dans la recherche et le développement en 2022, se concentrant sur les algorithmes prédictifs avancés et l'optimisation logistique.

Investissement en R&D	Montant
2022 dépenses de R&D	362 millions de dollars

Solide reconnaissance de la marque

Doordash tient un 57% de part de marché au marché américain de la livraison des aliments en 2023.

Infrastructure technologique stratégique

La société maintient l'infrastructure cloud avec Amazon Web Services, prenant en charge les algorithmes de suivi des commandes en temps réel et de livraison prédictive.

• Fournisseur de cloud: services Web Amazon
• Pile technologique: architecture microservices
• Capacité de traitement: plus de 1,7 milliard de commandes annuelles

Doordash, Inc. (Dash) - Modèle d'entreprise: propositions de valeur

Livraison de nourriture pratique de plusieurs restaurants

Doordash dessert plus de 7 000 villes à travers les États-Unis, le Canada, l'Australie et le Japon. Au quatrième trimestre 2023, la plate-forme propose la livraison de plus de 390 000 partenaires de restauration.

Métrique	Valeur
Total des restaurants	390,000+
Couverture géographique	Plus de 7 000 villes
Pays desservis	4 pays

Expérience de commande de repas rapide et fiable

Temps de livraison moyen: 35 minutes. La plate-forme traite 1,7 milliard de commandes au total en 2023.

• Délai de livraison médian: 35 minutes
• Commandes annuelles totales: 1,7 milliard
• Valeur moyenne de la commande: 28,47 $

Grande variété d'options de cuisine

La plate-forme propose des catégories de cuisine, notamment:

• Américain
• mexicain
• Chinois
• italien
• Restauration rapide
• Options saines

Suivi en temps réel de la livraison de nourriture

Précision de suivi GPS: 98,6% de mises à jour de l'emplacement en temps réel.

Fonction de suivi	Performance
Précision de l'emplacement	98.6%
Mettre à jour la fréquence	Toutes les 2-3 minutes

Services de livraison sans contact

40% des livraisons totales effectuées par le biais d'options sans contact en 2023.

• Pourcentage de livraison sans contact: 40%
• Options de dépôt sans contact disponibles
• Stratégie d'adaptation pandémique Covid-19

Doordash, Inc. (Dash) - Modèle d'entreprise: relations avec les clients

Interactions basées sur des applications mobiles

L'application mobile de Doordash compte 32 millions d'utilisateurs actifs mensuels au quatrième trimestre 2023. L'application facilite 1,7 million de commandes quotidiennes avec une note de 4,8 / 5 étoiles sur Apple App Store et Google Play Store.

Métrique de l'application mobile	2023 données
Utilisateurs actifs mensuels	32 millions
Commandes quotidiennes	1,7 million
Note de l'App Store	4.8/5

Support client via les canaux numériques

Doordash fournit au support client multicanal avec un temps de réponse moyen de 2,3 heures à travers:

• Support de chat dans l'application
• Assistance par e-mail
• Support téléphonique
• Canaux de médias sociaux

Recommandations personnalisées

La plate-forme utilise des algorithmes axés sur l'IA qui génèrent des recommandations de restaurants personnalisés avec une précision de 78%. Les utilisateurs reçoivent des suggestions personnalisées en fonction de:

• Historique des commandes précédents
• Préférences de cuisine
• Suggestions basées sur la localisation
• Heure de la journée

Programme de fidélité et de récompenses

Programme de dashpass	Détails
Abonnés	6,3 millions
Coût d'abonnement mensuel	$9.99
Coût annuel d'abonnement	$96
Seuil de livraison gratuit	12 $ par commande

Avis des utilisateurs et système de notation

Doordash maintient un système de notation complet avec 94% des restaurants évalués au-dessus de 4 étoiles. La plate-forme traite quotidiennement environ 250 000 évaluations des clients.

Examiner les mesures	2023 statistiques
Avis quotidiens traités	250,000
Les restaurants ont évalué plus de 4 étoiles	94%
Évaluation moyenne des clients	4.6/5

Doordash, Inc. (Dash) - Modèle commercial: canaux

Application mobile

Téléchargements d'applications mobiles Doordash: 31 millions d'utilisateurs actifs au quatrième trimestre 2023. APP Disponible sur les plates-formes iOS et Android. Évaluation moyenne de l'application de 4,7 / 5 sur Apple App Store.

Plate-forme	Téléchargements totaux	Utilisateurs actifs mensuels
ios	18,5 millions	12,3 millions
Androïde	22,7 millions	14,6 millions

Plateforme de site Web

Trafic de site Web mensuel de Doordash.com: 85,6 millions de visiteurs uniques en 2023. Le site Web prend en charge plus de 4 500 villes à travers les États-Unis.

Métrique	2023 données
Visiteurs uniques mensuels	85,6 millions
Villes servies	4,500+

Marketing des médias sociaux

Le nombre de suiveurs des médias sociaux sur toutes les plateformes:

• Instagram: 1,2 million de followers
• Twitter: 385 000 abonnés
• Facebook: 650 000 abonnés
• Tiktok: 475 000 abonnés

Publicité numérique

Digital Advertising dépense en 2023: 487 millions de dollars. Les canaux publicitaires comprennent:

• Publicités Google
• Publicités Facebook
• Contenu parrainé par Instagram
• Publicité d'affichage programmatique

Campagnes de référence et promotionnelles

Mesures du programme de référence pour 2023:

Métrique de la campagne	Valeur
Campagnes de référence totales	37
Crédit de référence moyen	15 $ par nouvel utilisateur
Taux de conversion	22.5%

Doordash, Inc. (Dash) - Modèle d'entreprise: segments de clientèle

Milléniaux urbains et suburbains

Au quatrième trimestre 2023, les milléniaux représentent 42,7% de la base d'utilisateurs active de Doordash. Prices d'âge médiane: 25-38 ans.

Métrique démographique	Pourcentage
Pénétration des utilisateurs du millénaire	42.7%
Segment du millénaire urbain	31.4%
Segment de la millénaire de banlieue	11.3%

Jeunes professionnels

Revenu annuel moyen pour ce segment: 82 500 $. Fréquence de commande hebdomadaire: 3,2 fois par semaine.

• Âge médian: 29 à 35 ans
• Valeur moyenne de la commande: 38,50 $
• Secteurs principaux de l'emploi: technologie, finance, marketing

Familles occupées

Pénétration des ménages familiaux: 27,6% de la base d'utilisateurs totale. Dépenses mensuelles moyennes: 276 $.

Caractéristique du segment de la famille	Valeur
Taille du ménage	3,4 membres
Dépenses de livraison mensuelles	$276
Fréquence de commande du week-end	2,7 fois

Étudiants

Segment des utilisateurs du collège: 18,3% du total des utilisateurs. Volume de commande mensuel moyen: 12,5 commandes.

• Tranche d'âge primaire: 18-24 ans
• Valeur moyenne de la commande: 24,75 $
• Utilisation la plus élevée pendant les périodes d'examen et les week-ends

Consommateurs avertis de la technologie

Utilisation des applications mobiles: 87,3% du total des commandes. Taux d'engagement multiplateforme: 65,2%.

Métrique d'adoption de la technologie	Pourcentage
Pourcentage de commande d'application mobile	87.3%
Utilisateurs multiplateformes	65.2%
Adoption des paiements numériques	92.6%

Doordash, Inc. (Dash) - Modèle d'entreprise: Structure des coûts

Paiements de conducteur

Au quatrième trimestre 2023, Doordash a déclaré 1,7 milliard de dollars de coûts directs liés à l'indemnisation du conducteur. La structure de paiement du conducteur de l'entreprise comprend:

• Paye de base allant de 2 $ à 10 $ par livraison
• Pierre salaire pendant les heures à forte demande
• Bonus promotionnels pour effectuer plusieurs livraisons

Catégorie de coûts	Montant annuel (2023)	Pourcentage de revenus
Paiements de conducteur	6,8 milliards de dollars	45.3%

Développement technologique

Doordash a investi 836 millions de dollars dans les frais de recherche et de développement en 2023. Les coûts clés de développement technologique comprennent:

• Salaires d'ingénierie logicielle
• Infrastructure cloud
• Algorithmes d'apprentissage automatique
• Maintenance des applications mobiles

Dépenses de développement technologique	2023 Montant
Dépenses de R&D	836 millions de dollars
Travail d'ingénierie	1 200 employés

Marketing et acquisition de clients

Doordash a dépensé 1,2 milliard de dollars pour le marketing en 2023, ce qui représente 8% des revenus totaux. Les coûts d'acquisition comprennent:

• Publicité numérique
• Crédits promotionnels
• Programmes de référence
• Campagnes de médias sociaux

Dépenses de marketing	2023 Montant	Coût d'acquisition des clients (CAC)
Dépenses marketing totales	1,2 milliard de dollars	22 $ ​​par nouveau client

Maintenance de la plate-forme

Les coûts de maintenance des plateformes pour 2023 ont totalisé environ 450 millions de dollars, couvrant:

• Services d'hébergement cloud
• Infrastructure de serveur
• Sécurité du réseau
• Mises à niveau du système

Dépenses de maintenance de la plate-forme	2023 Montant
Coûts d'infrastructure	450 millions de dollars

Infrastructure de support client

Doordash a alloué 320 millions de dollars aux opérations de support client en 2023, notamment:

• Soutenir les salaires représentatifs
• Technologie de service client
• Systèmes de support multicanaux
• Programmes de formation

Dépenses du support client	2023 Montant	Canaux de support
Coûts de soutien total	320 millions de dollars	Téléphone, e-mail, chat, dans l'application

Doordash, Inc. (Dash) - Modèle d'entreprise: Strots de revenus

Frais de livraison

Au quatrième trimestre 2023, Doordash facture des frais de livraison moyens allant de 1,99 $ à 5,99 $ par commande. L'entreprise a généré 2,9 milliards de dollars de frais de livraison Au cours de l'exercice 2023.

Type de frais	Montant moyen	Revenus annuels (2023)
Frais de livraison standard	$3.50	1,7 milliard de dollars
Frais de livraison de priorité	$5.99	600 millions de dollars
Frais de livraison de commodité	$1.99	600 millions de dollars

Commissions de service des restaurants

Doordash facture des taux de commission des restaurants entre 20% et 30% par commande. Au cours de l'exercice 2023, les commissions du restaurant ont totalisé 3,7 milliards de dollars.

• Commission des restaurants standard: 25%
• Partnership de restaurant premium: 30%
• Taux d'actualisation petit restaurant: 20%

Abonnement à l'abonnement Dashpass

L'abonnement Dashpass génère 480 millions de dollars annuellement. L'abonnement mensuel coûte 9,99 $ avec environ 4 millions d'abonnés actifs.

Niveau d'abonnement	Prix ​​mensuel	Revenus annuels
Passe-t-dash individuel	$9.99	360 millions de dollars
Family Dashpass	$14.99	120 millions de dollars

Revenus publicitaires

La plate-forme publicitaire de Doordash générée 585 millions de dollars en 2023, représentant une croissance de 40% en glissement annuel.

Services de restauration d'entreprise

Les services de restauration d'entreprise ont contribué 220 millions de dollars aux revenus de Doordash en 2023, avec une valeur de commande moyenne de 350 $.

DoorDash, Inc. (DASH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers, merchants, and Dashers choose DoorDash, Inc. over the competition as of late 2025. The numbers show a clear market leader, but the value proposition has to keep evolving to maintain that edge.

Customers: Unmatched selection and fast, reliable delivery

For consumers, the value proposition centers on having almost anything delivered quickly from a massive selection of local options. DoorDash, Inc. commands an unprecedented 68% market share in the U.S. food delivery industry as of 2025. This scale translates directly into choice and speed.

The platform served 42 million monthly active users placing at least one order in December 2024. In the third quarter of 2025, Total Orders increased 21% Y/Y to 776 million. Reliability is quantified by speed; the fastest average delivery time recorded in 2024 was 26 minutes and 24 seconds.

Merchants: Outsourced logistics and expanded customer reach

Merchants gain access to a vast customer base and a ready-made logistics network. DoorDash, Inc. partnered with close to 600,000 merchants, including restaurants and grocery markets, as of 2024. The platform is a significant revenue driver; in Q3 2025, DoorDash, Inc. generated nearly $24 billion in combined sales for merchants and earnings for Dashers. The company projects this figure to exceed $100 billion in 2026.

The value delivered to merchants can be seen in the platform's scale and efficiency:

Metric	Value (Latest Reported)	Context
Marketplace Gross Order Value (Q3 2025)	$25.0 billion	Quarterly total value of orders processed
Revenue (Q3 2025)	$3.4 billion	Quarterly revenue, up 27% Y/Y
Partnered Merchants (2024)	Around 600,000	Total number of businesses on the platform
Projected Combined Sales (2026)	Well over $100 billion	Forward-looking projection for merchant sales and Dasher earnings

Dashers: Flexible, independent work and clear earnings structure

For Dashers, the proposition is flexible earning potential without the constraints of traditional employment. DoorDash, Inc. supported a massive delivery workforce, having more than 8 million active couriers (Dashers) in 2024. These Dashers collectively earned over $18 billion in total annual earnings in 2024. The Q3 2025 report noted nearly $24 billion generated in combined sales for merchants and earnings for Dashers.

Key earning and engagement statistics for Dashers include:

• Dashers in 2024 earned over $18 billion collectively.
• The Net Revenue Margin improvement in Q3 2025 was partly due to a reduction in Dasher costs as a percentage of Marketplace GOV.
• The platform offers flexible earning opportunities for its contracted drivers.

DashPass: Free delivery and exclusive perks for a monthly fee

DashPass is the loyalty and recurring revenue engine, offering tangible savings for frequent users. As of Q4 2024, DoorDash, Inc. had 22 million DashPass subscribers. Another report suggests 26 million subscribers for DashPass and Wolt+ as of 2025. The monthly fee for the service is $9.99 per month.

The value proposition for subscribers is direct cost reduction. Customers using DashPass save between US$4 and 5 on an average eligible order. This subscription service is highly adopted, with an eMarketer survey showing 12% of U.S. adults were DashPass members as of June 2024, outpacing competitors.

Finance: review the Q4 2025 guidance for Marketplace GOV of $28.9-$29.5 billion to model subscription spend impact next week.

DoorDash, Inc. (DASH) - Canvas Business Model: Customer Relationships

You're managing relationships across millions of users and hundreds of thousands of merchants; the key is knowing where to automate and where to lean in with human effort. For DoorDash, Inc. (DASH), the customer relationship strategy is heavily weighted toward digital self-service, but with clear, high-value tiers for partners.

Automated, self-service platform via mobile app.

The vast majority of customer interactions are handled through the automated mobile app experience. This platform supports the scale necessary to process massive transaction volumes. In the third quarter of 2025, Total Orders reached 776 million, all flowing through this digital interface. Marketplace Gross Order Value (GOV) for that same quarter hit $25.0 billion. This scale demands automation for everything from order placement to payment processing.

The platform's reach is significant, with 46.3 million active users as of late 2025. This massive user base relies on the app for convenience and choice. To keep them engaged, the platform drives personalization through new category adoption; in December 2024, over 25% of Monthly Active Users (MAUs) ordered from at least one of the new vertical categories, up from over 20% in December 2023.

High-touch support for top-tier merchants and enterprise clients.

DoorDash, Inc. (DASH) segments its merchant relationships based on the commission tier they select, which directly correlates to the level of built-in support and marketing visibility they receive. This tiered structure helps manage the high-touch requirements for partners who drive the most value or require more operational assistance. Honestly, the Premier tier is where you see the most dedicated relationship investment.

Here's how the merchant relationship tiers break down based on the delivery commission structure as of 2025:

Merchant Plan	Delivery Commission Rate	Pickup Commission Rate	Key Relationship Feature
Basic	15%	6%	Reach customers nearby; Highest customer delivery fee
Plus	25%	6%	Reach customers farther away; Access to DashPass members
Premier	30%	6%	Maximize sales; Automatic ads; Growth Guarantee

The Premier plan is definitely the high-touch offering, including a Growth Guarantee: if the restaurant receives 20 or fewer orders in a month across Pickup and Delivery, DoorDash will refund the delivery commission for that month. Furthermore, Premier partners receive a $200 credit toward professional food photography and a 35% discount on the Commerce Platform Pro package.

DashPass subscription model for loyalty and retention.

The DashPass subscription is the primary engine for building predictable, recurring revenue and fostering deep customer loyalty. This model directly addresses the low loyalty issue common in the gig economy by incentivizing repeat use. As of late 2025, there are 26 million subscribers to DashPass and Wolt+. This is up from over 22 million exiting 2024.

The value proposition is clear, and the financial impact on engagement is substantial. Subscribers pay $9.99 per month or $96 annually for benefits like $0 delivery fees on eligible orders. The data shows these members are highly valuable; they order twice as often and spend 2.5x more than non-subscribers. This focus on subscription growth is key to improving the Customer Lifetime Value (LTV) relative to the Customer Acquisition Cost (CAC).

In-app personalization and targeted promotions.

DoorDash, Inc. (DASH) uses the data gathered from its automated platform to drive targeted promotions and expand customer engagement beyond the core restaurant vertical. This strategy helps increase the overall spend per user. For instance, the company cited strong growth in monthly active users and DashPass members, as well as growing delivery demand in surprising categories like home improvement and beauty in Q3 2025.

The platform uses in-app visibility to drive merchant success, which is a key part of the relationship. The Premier merchant tier, for example, gets automatic ads run on its behalf at no extra cost. The overall investment in marketing to attract and retain these users is significant; GAAP Sales and Marketing expense in Q3 2025 was $576 million. The goal is to use these personalized nudges-whether it's a promotion for a new vertical or preferred placement for a top-tier merchant-to keep the customer within the DoorDash ecosystem.

DoorDash, Inc. (DASH) - Canvas Business Model: Channels

You're looking at how DoorDash, Inc. (DASH) gets its value proposition-fast, local commerce fulfillment-into the hands of its customers, and this is a multi-pronged approach as of late 2025. The core remains digital, but the expansion into logistics-as-a-service and dark stores shows a clear evolution beyond just restaurant delivery.

DoorDash mobile application and website

The primary channel is the consumer-facing mobile application and the corresponding website. This is where the vast majority of the action happens, driving the Marketplace Gross Order Value (GOV). For the third quarter ending September 30, 2025, the platform processed a total of 776 million Total Orders. The Marketplace GOV for that same quarter hit $25.0 billion, which translated to $3.4 billion in Revenue for DoorDash, Inc. (DASH). The efficiency of this channel is reflected in the Net Revenue Margin, which stood at 13.8% in Q3 2025, an improvement from prior periods, partly due to increasing contribution from advertising revenue.

The stickiness of this channel is heavily reliant on the subscription tier, DashPass, which also now includes Wolt+ benefits internationally. As of the end of 2025, DoorDash, Inc. (DASH) reported having 26 million subscribers across DashPass and Wolt+. This subscription base is key to driving engagement, as DashPass members provide growing value to merchant partners. The network of partners accessible through this channel is substantial, with close to 600,000 merchants utilizing the platform as of 2024, a number DoorDash, Inc. (DASH) continues to grow.

Here's a quick look at the Q3 2025 scale for the core Marketplace channel:

Metric	Value (Q3 2025)
Total Orders	776 million
Marketplace GOV	$25.0 billion
Revenue	$3.4 billion
Net Revenue Margin	13.8%

DoorDash Drive (B2B logistics solution)

DoorDash Drive is the channel that monetizes the logistics network outside of the consumer marketplace. This is the Business-to-Business (B2B) arm, where DoorDash, Inc. (DASH) fulfills deliveries for other businesses using its fleet of Dashers. While specific revenue figures for DoorDash Drive were not broken out separately in the Q3 2025 results, its existence is critical to leveraging the existing Dasher network for higher utilization and new revenue streams. This channel helps merchants grow their businesses by providing the delivery infrastructure without needing to manage the entire process themselves.

International platforms like Wolt and Deliveroo

International expansion is a major channel strategy, primarily executed through the acquisition and integration of Wolt, and the more recent, massive acquisition of Deliveroo. DoorDash, Inc. (DASH) completed the acquisition of the UK-based food delivery service Deliveroo in May 2025 for approximately $3.9 billion, dramatically expanding its global footprint. Wolt, acquired in 2022, already operates in over 20 countries across Europe and Asia, and its integration is key to achieving global feature velocity.

The Deliveroo integration is expected to contribute significantly to profitability, with management forecasting approximately $45 million in Adjusted EBITDA contribution for Q4 2025, and an expected $200 million contribution in 2026. This international segment, which includes Wolt and the newly integrated Deliveroo operations (excluding Hong Kong, which ended in April 2025), is central to the company's vision of building a single global tech stack.

The international channel's reach and expected financial impact include:

• Wolt operates in over 20 countries.
• Deliveroo acquisition cost was $3.9 billion (May 2025).
• Deliveroo expected Q4 2025 Adjusted EBITDA contribution: ~$45 million.
• Deliveroo expected 2026 Adjusted EBITDA contribution: ~$200 million.

DashMart fulfillment centers for grocery and convenience

The DashMart channel represents DoorDash, Inc. (DASH)'s move into micro-fulfillment logistics for non-restaurant verticals like grocery and convenience. These fulfillment centers are designed to handle the entire process, from inventory management to picking, packing, and delivery by Dashers, which increases efficiency by requiring little onboarding expertise from merchants. This channel is a focus for multi-year investment, with management citing it as foundational for 2026 plans. The expansion in this area is evidenced by the October 1, 2025, launch of Kroger, America's largest grocer, onto the platform, making nearly 2,700 Kroger stores accessible through DoorDash, Inc. (DASH) channels, including DashMart Fulfillment Services.

This strategy aims to deepen integration into consumers' daily lives beyond just meals. The growth in new verticals, including grocery and retail partnerships, is a deliberate channel diversification effort to capture more of the local commerce spend. If onboarding takes 14+ days, churn risk rises, so the DashMart model is designed to streamline this for high-volume partners like Kroger.

Finance: draft 13-week cash view by Friday.

DoorDash, Inc. (DASH) - Canvas Business Model: Customer Segments

You're looking at the core groups DoorDash, Inc. (DASH) serves to keep that massive logistics engine running. It's not just about people ordering food; it's a three-sided marketplace, and each side has its own distinct needs.

The broadest group is the mass market consumers seeking on-demand convenience. As of December 2024, DoorDash had more than 42 million monthly active users placing at least one order across its marketplaces, which include DoorDash and Wolt. By Q1 2025, this figure grew to 42 million active users, showing continued penetration. To be fair, a significant portion of users are in lower-income brackets, with approximately 34.8% of U.S. households earning under $25,000 annually using the service. This suggests accessibility is a key driver for this segment.

Next, you have the highly engaged, high-frequency users-the DashPass subscribers. The prompt mentioned over 22 million in 2024, and the data confirms this, showing over 22 million members exiting 2024. By Q1 2025, the DashPass subscription program reached 22 million members, a strong indicator of loyalty. This segment is crucial because they drive repeat business; for instance, 12% of U.S. adults were DashPass members as of June 2024, outpacing similar services from competitors.

The supply side is anchored by merchants, which includes local, regional, and national restaurant chains, plus the newer non-restaurant retail and grocery merchants. DoorDash, Inc. maintained a commanding position, claiming a 67% market share in the U.S. food delivery market as of March 2024. By the end of 2024, the platform partnered with close to 600,000 merchants in total, up from 550,000 in 2023. These merchants helped generate nearly $60 billion in sales for them in 2024. The expansion into new verticals means this merchant count isn't just restaurants; thousands of new grocery stores were added in 2024 alone.

The final, essential segment is the independent delivery drivers, the Dashers. DoorDash, Inc. had more than 8 million active delivery couriers in 2024. These Dashers collectively earned over $18 billion in total annual earnings that same year. While the U.S. still has a large pool, with 2 million monthly active Dashers reported in 2023, the sheer scale of 8 million globally in 2024 shows the massive gig economy workforce DoorDash, Inc. supports.

Here's a quick look at the scale of these primary customer groups as of late 2024/early 2025 data:

Customer Segment	Key Metric	Latest Reported Figure	Year/Period
Consumers (MAUs)	Monthly Active Users	46.3 million	2025 (as of Q1 2025)
Subscribers	DashPass & Wolt+ Members	22 million	End of 2024
Merchants	Total Partnered Locations	600,000	2024
Dashers	Active Couriers	8 million	2024
Dashers	Total Annual Earnings	Over $18 billion	2024

You can see the platform is designed to keep these groups engaged simultaneously. For instance, the focus on subscription members is a direct lever to increase consumer order frequency, which in turn drives more delivery opportunities for Dashers and more volume for merchants. The platform's success hinges on balancing the needs of these distinct groups, especially as they expand beyond just restaurants.

The key user demographics for the consumer side include:

• Younger demographics (18-44) prioritizing speed and digital convenience.
• Users spanning a wide income spectrum.
• Consumers who use third-party apps first for 34% of their food orders in the U.S.

If onboarding for new Dashers takes 14+ days, churn risk rises, defintely. Finance: draft 13-week cash view by Friday.

DoorDash, Inc. (DASH) - Canvas Business Model: Cost Structure

You're looking at the major outflows for DoorDash, Inc. as of late 2025. These are the costs that eat into the revenue generated from Marketplace GOV and DashPass subscriptions.

Dasher pay and incentives remain the single largest variable cost component, though the company has noted reduced Dasher costs contributing to margin expansion. In the third quarter of 2025, DoorDash generated nearly $24 billion in combined sales for merchants and earnings for Dashers. This massive flow of funds to the delivery fleet represents the core variable expense that scales directly with order volume.

Sales and marketing expenses for customer acquisition (CAC) show a clear push for efficiency, even as spending rises year-over-year. For the third quarter ending September 30, 2025, GAAP sales and marketing expense was reported at $576 million, which was up 19% year-over-year. However, the adjusted figure, which strips out certain compensation effects, was $542 million, representing 2.3% of Marketplace GOV for the quarter.

Technology and R&D for platform development is a significant fixed-to-semi-fixed cost, reflecting the ongoing investment in the global AI-native tech platform. In Q3 2025, GAAP research and development expense was $355 million, a 23% increase year-over-year. The adjusted R&D figure for the same quarter was $215 million, which represented 1.4% of Marketplace GOV.

Stock-based compensation is a non-cash expense that remains material to the overall cost base. DoorDash, Inc. expects the full-year 2025 stock-based compensation expense to be approximately $1.1 billion, though earlier guidance in Q1 2025 suggested a range of $1.1 billion to $1.2 billion. To be fair, the trailing twelve months ending September 30, 2025, showed a higher figure of $2.626B, defintely showing the variability of this metric.

General and administrative (G&A) overhead covers the corporate infrastructure supporting the platform. GAAP general and administrative expense in Q3 2025 hit $400 million, up 27% year-over-year. The adjusted G&A for the quarter was lower at $299 million, making up 1.6% of Marketplace GOV.

Here's a quick look at the Q3 2025 expense components we can quantify, showing the difference between GAAP and the adjusted view management often emphasizes:

Expense Category	GAAP Expense (Q3 2025)	Adjusted Expense (Q3 2025)
Sales and Marketing	$576 million	$542 million
Research and Development	$355 million	$215 million
General and Administrative	$400 million	$299 million
Expected Full Year 2025 Stock-Based Comp.	N/A	$1.1 billion (Guidance)

The total operating expenses for the twelve months ending September 30, 2025, reached $11.942B. You can see the breakdown of the major controllable operating costs below:

• Sales and Marketing (TTM ending Jun 30, 2025): $2.22B
• Research and Development (TTM ending Jun 30, 2025): $1.24B
• General and Administrative (TTM ending Jun 30, 2025): $1.36B

Finance: draft 13-week cash view by Friday.

DoorDash, Inc. (DASH) - Canvas Business Model: Revenue Streams

You're looking at the core ways DoorDash, Inc. pulls in cash as of late 2025. It's a multi-pronged approach, moving beyond just taking a cut of the food delivery; the high-margin advertising business is now a major component, which is helping lift the overall Net Revenue Margin to 13.8% as of the third quarter of 2025.

The foundation remains the take-rate from marketplace transactions. For the quarter ending September 30, 2025, Marketplace Gross Order Value (GOV) hit $25.0 billion, with Total Orders reaching 776 million. This volume flows into the primary revenue sources below.

Merchant commission fees are tiered based on the partnership level a restaurant selects:

Plan Tier	Delivery Commission Rate	Pickup Commission Rate (2025)
Basic Plan	15% of order value	6% of order value
Plus Plan	25% of order value	6% of order value
Premier Plan	30% of order value	6% of order value

Customer delivery and service fees are variable charges passed directly to the end-user to cover logistics and platform usage. These fees fluctuate based on distance, order size, and whether the customer is a DashPass member.

Subscription revenue from DashPass and Wolt+ is a growing, predictable stream. As of the third quarter of 2025, DoorDash, Inc. reported a subscription base of 26 million members across DashPass and Wolt+.

Advertising revenue has scaled significantly, becoming a high-margin profit machine. The annualized run-rate for this segment surpassed $1 billion recently. This advertising stream, which includes on-platform and off-site ads, directly contributed to the Q3 2025 total revenue of $3.4 billion.

DoorDash Drive B2B logistics fees represent the revenue generated when third parties use the Dasher network for their own fulfillment needs. This is charged as a flat fee per order, though the exact fee structure varies by contract and volume.

Here are some key financial context points from Q3 2025:

• Total Revenue: $3.4 billion.
• Marketplace Gross Order Value (GOV): $25.0 billion.
• Total Orders: 776 million.
• GAAP Gross Profit: $1.7 billion.

Finance: draft 13-week cash view by Friday.