2012
DoorDash was founded by Stanford students Andy Fang, Stanley Tang, Evan Moore and Tony Hsu.
“Andy Fang and Stanley Tang were the two undergraduate computer science majors. And the two GSB business school students were Evan Moore and Tony Hsu.”
Topic
DoorDash
31 facts from 6 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2013
PaloAltoDelivery.com went live on January 12th, 2013, and received its first order within an hour.
“on January 12th, 2013, this would have been the start of the second quarter of the winter quarter at Stanford”
2013
DoorDash's founders used the Find My Friends app on iPhones to track couriers in real time.
“They used find my friends on iPhones to track the deliveries in real time.”
2013
DoorDash initially charged consumers a flat $6 delivery fee.
“so initially it was a flat $6 delivery charge to the consumer for getting your food delivered”
2013
DoorDash raised a $2.4 million seed round after Y Combinator in fall 2013.
“they raise a $2.4 million seed round in the fall of 2013”
2013
DoorDash launched its first expansion market in San Jose, specifically East San Jose.
“They launch in San Jose and in East San Jose specifically as their first market.”
2013
Dara said DoorDash gained its edge by betting early on suburbs and restaurant selection, while Uber focused on cities and speed.
“They made a bet on the suburbs. And they made a bet on selection, restaurant selection.”
2014
DoorDash raised a $17 million Series A from Sequoia at a $73.5 million post-money valuation in May 2014.
“$17 million series a from Sequoia at a 73 and a half million dollar post money valuation”
2015
With eight live markets in early 2015, DoorDash raised a $40 million Series B led by Kleiner Perkins at a $600 million valuation.
“they are alive in eight markets. They raise a $40 million series B”
2015
DoorDash signed its first national chain partnership, with Yum Brands for Taco Bell, in July 2015.
“So it was actually in July of 2015, uh, shortly after the series B that they signed their first partnership with yum brands”
2015
In-N-Out sued DoorDash in November 2015 over deliveries made without a partnership.
“So in and out sued them in November, 2015.”
2016
In March 2016 Sequoia led a $127 million Series C for DoorDash, joined by Singapore's sovereign wealth fund GIC, at a $700 million post-money valuation.
“They lead a $127 million series C, uh, they bring in the GIC, the, sovereign wealth fund from Singapore”
2017
DoorDash raised a $60 million insider bridge round at the end of 2017 to stay alive.
“they do a $60 million inside bridge round, uh, just to keep the company alive at the end of 2017.”
2018
In the 2018 SoftBank-led round DoorDash sold 38% of the company at a $1.4 billion post-money valuation.
“38% of the company that they sell in this round to SoftBank and the other investors.”
2018
By the end of 2018 DoorDash operated in over 3,000 towns and cities in the United States.
“By the end of 2018, they are operating in over 3000 towns and cities in America”
2019
DoorDash passed Grubhub to become the largest US food delivery player in March 2019.
“Then in the next year in March of 2019, they finally pass Grubhub, uh, and become literally the number one player in North America”
2019
DoorDash acquired Caviar from Square for $400 million in summer 2019.
“they acquire caviar for $400 million from square”
2019
DoorDash reported $885 million in net revenue and 263 million orders in 2019, each up over threefold from 2018.
“885 million in net revenue up over three X year on year, uh, 263 million orders also up over three X”
2019
Per the host's account of a July 2019 New York Times investigation, DoorDash counted customer tips toward a courier's guaranteed minimum pay.
“That tip is going to DoorDash and DoorDash is combining the tip into the total value of the order.”
2020
California voters passed Proposition 22 on November 3, 2020, letting gig companies keep drivers classified as contractors.
“election day, November 3rd, 2020, a huge moment for the country, but also for DoorDash and Uber and the whole gig economy, Prop 22 passes in California.”
2020
DoorDash released its S-1 and filed to go public on November 13, 2020.
“on November 13th, 2020, DoorDash releases their S1 and files to go public”
2020
DoorDash priced its IPO on December 8, 2020 at a fully diluted market cap of $39 billion.
“they priced the IPO for a fully diluted market cap of $39 billion”
2020
DoorDash opened at $182 per share on its first trading day, against an IPO price of $102.
“It opened trading at $182 a share, which is a market cap of around what”
2020
Per Tony Hsu as relayed by the host, 40% of Dashers are women compared with 15% of ride share drivers.
“40% of dashers are female, whereas only 15% of ride share drivers are women”
2020
Airbnb's founders collectively owned 31% of the company at IPO, versus roughly 13-14% for DoorDash's founders.
“the founders owned 31% of the company, comparing that to the, what is it, 13, 14% that founders of DoorDash owned.”
2020
Per Axios's Dan Primack, DoorDash and Airbnb were Alfred Lin's first two IPOs after his decade at Sequoia.
“these were his first two IPOs after his decade at Sequoia.”
2020
Alfred Lin says DoorDash's Tony Xu, after learning from China's earlier experience of the pandemic, prioritized keeping restaurants open and then provided drivers with masks and contactless delivery.
“Tony realized the most important thing was to keep the restaurants open.”
2020
DoorDash had $2.9 billion in net revenue in 2020 after tripling, which the hosts compare to Meituan's roughly $15 billion in 2019.
“Even with that 3X in 2020, a year later for DoorDash, they did $2.9 billion in net revenue.”
2020
Acquired's run of IPO episodes culminated at the end of 2020 with DoorDash and Airbnb episodes recorded and released one day apart.
“culminated at the end of 2020 with DoorDash and Airbnb, which we recorded and released one day apart.”
Undated
Alfred Lin says Sequoia passed on DoorDash's seed round and that he considers this his fault.
“we unfortunately decided to pass on the seed. And that's my fault.”
Undated
Alfred Lin says Sequoia's investment in Meituan in China allows learnings about delivery economics and scale to be shared with DoorDash.
“we are investors in Meituan in China, and there are a lot of learnings back and forth about what works, what doesn't”
Episodes