Doordash, Inc. (DASH): modelo de negócios [Jan-2025 Atualizado]

No mundo acelerado da entrega de alimentos digitais, DoorDash revolucionou como milhões de consumidores famintos pedem refeições com apenas algumas torneiras em seus smartphones. Ao conectar engenhosamente restaurantes, motoristas de entrega e clientes por meio de uma sofisticada plataforma de tecnologia, a empresa se transformou de uma startup para um US $ 50 bilhões Líder de mercado que interrompe as experiências de refeições tradicionais. Este mergulho profundo na Canvas de modelo de negócios da Doordash revela as intrincadas estratégias e abordagens inovadoras que impulsionaram a empresa à vanguarda do ecossistema de entrega de alimentos sob demanda, oferecendo conveniência e escolha sem precedentes aos consumidores modernos.

Doordash, Inc. (DASH) - Modelo de negócios: Parcerias -chave

Correntes de restaurantes e restaurantes locais

A partir do quarto trimestre de 2023, o Doordash fez uma parceria com mais de 750.000 locais de restaurantes e lojas de conveniência nos Estados Unidos, Canadá, Austrália e Japão.

Categoria de parceiro	Número de locais	Cobertura de mercado
Cadeias de restaurantes nacionais	5,000+	90% das 100 principais marcas de restaurantes
Restaurantes independentes locais	385,000+	Mercados urbanos e suburbanos

Supermercados e lojas de conveniência

Doordash tem parcerias estratégicas com as principais redes de supermercados e lojas de conveniência.

• Walmart: Parceria cobrindo mais de 5.000 lojas
• Albertsons: 2.200 locais de supermercado
• Farmácia CVS: 9.900 locais de loja de conveniência

Drivers de entrega (contratados independentes)

Em dezembro de 2023, a rede de entrega de Doordash inclui:

Categoria de motorista	Número total	Dasers ativos mensais médios
Contratados independentes	2,2 milhões	1,5 milhão

Fornecedores de tecnologia e mapeamento

As principais parcerias tecnológicas incluem:

• API do Google Maps para roteamento
• Amazon Web Services (AWS) para infraestrutura em nuvem
• Faixa para integração de tecnologia de pagamento

Plataformas de processamento de pagamento

As parcerias de processamento de pagamento de Doordash incluem:

Provedor de pagamento	Volume da transação (2023)	Penetração de mercado
Listra	US $ 14,5 bilhões	Gateway de pagamento primário
PayPal	US $ 3,2 bilhões	Opção de pagamento secundário

Doordash, Inc. (DASH) - Modelo de negócios: atividades -chave

Desenvolvimento da plataforma de entrega de alimentos

DoorDash opera uma plataforma de tecnologia com as seguintes especificações técnicas:

Métrica da plataforma	2024 dados
Usuários totais da plataforma	66 milhões de usuários ativos
Downloads de aplicativos móveis	45 milhões de downloads totais
Investimento de desenvolvimento de plataforma	Gastos anuais de P&D anuais de US $ 412 milhões

Restaurante e comerciante a integração

Métricas de rede de restaurantes:

• Total Restaurant Partners: 570.000
• Cobertura geográfica: mais de 7.000 cidades
• Taxa média de comissão: 25-30% por pedido

Aquisição e retenção de clientes

Métrica do cliente	2024 dados
Custo de aquisição do cliente	US $ 36 por novo cliente
Usuários ativos mensais	21 milhões
Taxa de retenção de clientes	48% Frequência de pedidos de repetição

Otimização e logística de rota

Métricas de desempenho de logística:

• Tempo médio de entrega: 35 minutos
• Rede de entrega: 2 milhões de mais traidores
• Volume diário de pedidos: 1,6 milhão de pedidos

Melhoria de tecnologia e algoritmo

Investimento em tecnologia	2024 dados
Orçamento de tecnologia anual	US $ 687 milhões
Modelos de aprendizado de máquina	127 algoritmos preditivos ativos
Aplicações de patentes	68 patentes tecnológicas arquivadas

Doordash, Inc. (DASH) - Modelo de negócios: Recursos -chave

Aplicativo móvel e web avançado

A partir do quarto trimestre 2023, o aplicativo móvel de DoorDash foi baixado 39,4 milhões de vezes. A plataforma suporta mais de 7.500 cidades nos Estados Unidos, Canadá, Austrália e Japão.

Métricas de plataforma	Valor
Downloads móveis totais	39,4 milhões
Cidades servidas	7,500+
Países operacionais	4

Grande rede de driver de entrega

Doordash possui aproximadamente 2 milhões de travessores ativos a partir de 2023. A plataforma processa mais de 1,7 bilhão de pedidos anuais.

• Dashers ativos: 2 milhões
• Volume anual de ordem: 1,7 bilhão
• Usuários ativos mensais médios: 32 milhões

Recursos de análise de dados e aprendizado de máquina

Doordash investiu US $ 362 milhões em pesquisa e desenvolvimento em 2022, com foco em algoritmos preditivos avançados e otimização de logística.

Investimento em P&D	Quantia
2022 Despesas de P&D	US $ 362 milhões

Forte reconhecimento de marca

Doordash segura a 57% de participação de mercado no mercado de entrega de alimentos dos EUA a partir de 2023.

Infraestrutura de tecnologia estratégica

A empresa mantém a infraestrutura em nuvem com os serviços da Web da Amazon, suportando o rastreamento de pedidos em tempo real e algoritmos de entrega preditiva.

• Provedor de nuvem: Amazon Web Services
• Pilha de tecnologia: arquitetura de microsserviços
• Capacidade de processamento: mais de 1,7 bilhão de pedidos anuais

Doordash, Inc. (DASH) - Modelo de Negócios: Proposições de Valor

Entrega conveniente de alimentos de vários restaurantes

Doordash atende a mais de 7.000 cidades nos Estados Unidos, Canadá, Austrália e Japão. A partir do quarto trimestre 2023, a plataforma oferece entrega de mais de 390.000 parceiros de restaurantes.

Métrica	Valor
Total de restaurantes	390,000+
Cobertura geográfica	Mais de 7.000 cidades
Países serviram	4 países

Experiência rápida e confiável para pedidos de refeição

Tempo médio de entrega: 35 minutos. A plataforma processa 1,7 bilhão de ordens totais em 2023.

• Tempo médio de entrega: 35 minutos
• Pedidos anuais totais: 1,7 bilhão
• Valor médio da ordem: $ 28,47

Ampla variedade de opções de cozinha

A plataforma oferece categorias de culinária, incluindo:

• americano
• mexicano
• chinês
• italiano
• Fast food
• Opções saudáveis

Rastreamento em tempo real da entrega de alimentos

Precisão de rastreamento de GPS: atualizações de localização em tempo real de 98,6%.

Recurso de rastreamento	Desempenho
Precisão da localização	98.6%
Atualizar frequência	A cada 2-3 minutos

Serviços de entrega sem contato

40% do total de entregas realizadas através de opções sem contato em 2023.

• Porcentagem de entrega sem contato: 40%
• Opções sem contato sem contato disponíveis
• Estratégia de adaptação pandêmica covid-19

Doordash, Inc. (DASH) - Modelo de Negócios: Relacionamentos do Cliente

Interações baseadas em aplicativos móveis

O aplicativo móvel do DoorDash possui 32 milhões de usuários ativos mensais a partir do quarto trimestre 2023. O aplicativo facilita 1,7 milhão de pedidos diários com uma classificação de 4,8/5 estrelas na Apple App Store e no Google Play Store.

Métrica de aplicativo móvel	2023 dados
Usuários ativos mensais	32 milhões
Ordens diárias	1,7 milhão
App Store Classificação	4.8/5

Suporte ao cliente através de canais digitais

O DOORDASH fornece suporte ao cliente multicanal com um tempo médio de resposta de 2,3 horas até:

• Suporte de bate-papo no aplicativo
• Suporte por e -mail
• Suporte telefônico
• Canais de mídia social

Recomendações personalizadas

A plataforma usa algoritmos orientados a IA que geram recomendações personalizadas de restaurantes com 78% de precisão. Os usuários recebem sugestões personalizadas com base em:

• Histórico de pedidos anteriores
• Preferências da cozinha
• Sugestões baseadas em localização
• Hora do dia

Programa de lealdade e recompensa

Programa DashPass	Detalhes
Assinantes	6,3 milhões
Custo mensal de assinatura	$9.99
Custo anual de assinatura	$96
Limiar de entrega gratuita	US $ 12 por pedido

Revisões de usuários e sistema de classificação

Doordash mantém um sistema de classificação abrangente, com 94% dos restaurantes classificados acima de 4 estrelas. A plataforma processa aproximadamente 250.000 análises de clientes diariamente.

Revise as métricas	2023 Estatísticas
Revisões diárias processadas	250,000
Os restaurantes classificaram mais de 4 estrelas	94%
Classificação média do cliente	4.6/5

Doordash, Inc. (DASH) - Modelo de Negócios: Canais

Aplicativo móvel

Downloads de aplicativos móveis DoorDash: 31 milhões de usuários ativos a partir do quarto trimestre 2023. App disponível em plataformas iOS e Android. Classificação média de aplicativos de 4,7/5 na Apple App Store.

Plataforma	Downloads totais	Usuários ativos mensais
iOS	18,5 milhões	12,3 milhões
Android	22,7 milhões	14,6 milhões

Plataforma do site

Doordash.com Monthly Site Tráfego: 85,6 milhões de visitantes únicos em 2023. O site suporta mais de 4.500 cidades nos Estados Unidos.

Métrica	2023 dados
Visitantes únicos mensais	85,6 milhões
Cidades servidas	4,500+

Marketing de mídia social

Contagem de seguidores de mídia social entre plataformas:

• Instagram: 1,2 milhão de seguidores
• Twitter: 385.000 seguidores
• Facebook: 650.000 seguidores
• Tiktok: 475.000 seguidores

Publicidade digital

Passos de publicidade digital em 2023: US $ 487 milhões. Os canais de publicidade incluem:

• Google anúncios
• Anúncios do Facebook
• Conteúdo patrocinado pelo Instagram
• Publicidade programática de exibição

Campanhas de referência e promocionais

Métricas do Programa de Referência para 2023:

Métrica da campanha	Valor
Total de campanhas de referência	37
Crédito de referência média	US $ 15 por novo usuário
Taxa de conversão	22.5%

Doordash, Inc. (DASH) - Modelo de negócios: segmentos de clientes

Millennials urbanos e suburbanos

A partir do quarto trimestre de 2023, os millennials representam 42,7% da base de usuários ativa do Doordash. Faixa de idade mediana: 25-38 anos.

Métrica demográfica	Percentagem
Penetração do usuário milenar	42.7%
Segmento milenar urbano	31.4%
Segmento milenar suburbano	11.3%

Jovens profissionais

Renda anual média para este segmento: US $ 82.500. Frequência semanal do pedido: 3,2 vezes por semana.

• Idade média: 29-35 anos
• Valor médio da ordem: $ 38,50
• Setores de emprego primário: tecnologia, finanças, marketing

Famílias ocupadas

Penetração familiar da família: 27,6% da base total de usuários. Gastes mensais médios: US $ 276.

Característica do segmento familiar	Valor
Tamanho da família	3.4 membros
Gasto mensal de entrega de alimentos	$276
Frequência do pedido de fim de semana	2,7 vezes

Estudantes universitários

Segmento de usuários da faculdade: 18,3% do total de usuários. Volume médio mensal de pedidos: 12,5 pedidos.

• Faixa de idade primária: 18-24 anos
• Valor médio da ordem: US $ 24,75
• Maior uso durante os períodos e fins de semana do exame

Consumidores com experiência em tecnologia

Uso do aplicativo móvel: 87,3% do total de pedidos. Taxa de engajamento de plataforma cruzada: 65,2%.

Métrica de adoção de tecnologia	Percentagem
Porcentagem de pedido de aplicativo móvel	87.3%
Usuários de plataforma cruzada	65.2%
Adoção de pagamento digital	92.6%

Doordash, Inc. (DASH) - Modelo de negócios: estrutura de custos

Pagamentos de motorista

No quarto trimestre 2023, Doordash registrou US $ 1,7 bilhão em custos diretos relacionados à compensação do motorista. A estrutura de pagamento do motorista da empresa inclui:

• Salário base variando de US $ 2 a US $ 10 por entrega
• Salário de pico durante horas de alta demanda
• Bônus promocionais para concluir várias entregas

Categoria de custo	Valor anual (2023)	Porcentagem de receita
Pagamentos de motorista	US $ 6,8 bilhões	45.3%

Desenvolvimento de Tecnologia

Doordash investiu US $ 836 milhões em despesas de pesquisa e desenvolvimento em 2023. Os principais custos de desenvolvimento de tecnologia incluem:

• Salários de engenharia de software
• Infraestrutura em nuvem
• Algoritmos de aprendizado de máquina
• Manutenção de aplicativos móveis

Despesas de desenvolvimento de tecnologia	2023 quantidade
Gastos em P&D	US $ 836 milhões
Força de trabalho de engenharia	1.200 funcionários

Marketing e aquisição de clientes

Doordash gastou US $ 1,2 bilhão em marketing em 2023, representando 8% da receita total. Os custos de aquisição incluem:

• Publicidade digital
• Créditos promocionais
• Programas de referência
• Campanhas de mídia social

Despesa de marketing	2023 quantidade	Custo de aquisição de clientes (CAC)
Gastos com marketing total	US $ 1,2 bilhão	US $ 22 por novo cliente

Manutenção da plataforma

Os custos de manutenção da plataforma para 2023 totalizaram aproximadamente US $ 450 milhões, cobrindo:

• Serviços de hospedagem em nuvem
• Infraestrutura do servidor
• Segurança de rede
• Atualizações do sistema

Despesas de manutenção da plataforma	2023 quantidade
Custos de infraestrutura	US $ 450 milhões

Infraestrutura de suporte ao cliente

DoorDash alocou US $ 320 milhões para operações de suporte ao cliente em 2023, incluindo:

• Salários representativos de suporte
• Tecnologia de atendimento ao cliente
• Sistemas de suporte multicanal
• Programas de treinamento

Despesa de suporte ao cliente	2023 quantidade	Canais de suporte
Custos de suporte total	US $ 320 milhões	Telefone, e-mail, bate-papo, no aplicativo

Doordash, Inc. (DASH) - Modelo de negócios: fluxos de receita

Taxas de entrega

A partir do quarto trimestre 2023, Doordash cobra uma taxa média de entrega que varia de US $ 1,99 a US $ 5,99 por pedido. A empresa gerou US $ 2,9 bilhões em taxas de entrega No ano fiscal de 2023.

Tipo de taxa	Valor médio	Receita anual (2023)
Taxa de entrega padrão	$3.50	US $ 1,7 bilhão
Taxa de entrega prioritária	$5.99	US $ 600 milhões
Taxa de entrega de conveniência	$1.99	US $ 600 milhões

Comissões de serviço de restaurantes

Doordash cobra os restaurantes comissionam taxas entre 20% e 30% por pedido. No ano fiscal de 2023, as comissões de restaurantes totalizaram US $ 3,7 bilhões.

• Comissão padrão de restaurante: 25%
• Parceria de restaurante premium: 30%
• Pequena taxa de desconto de restaurante: 20%

Assinatura da assinatura do DashPass

A assinatura do DashPass gera US $ 480 milhões anualmente. A assinatura mensal custa US $ 9,99 com aproximadamente 4 milhões de assinantes ativos.

Camada de assinatura	Preço mensal	Receita anual
Passpa de painel individual	$9.99	US $ 360 milhões
Family Dashpass	$14.99	US $ 120 milhões

Receita de publicidade

Plataforma de publicidade de Doordash gerada US $ 585 milhões em 2023, representando um crescimento de 40% ano a ano.

Serviços de catering corporativos

Os serviços de catering corporativos contribuíram US $ 220 milhões para a receita de Doordash em 2023, com um valor médio de ordem de US $ 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.