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DOORDASH, INC.

(DASH)
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DoorDash : California Restaurant Association and DoorDash Announce Partnership Dedicated to Supporting Small Businesses

08/27/2021 | 12:12pm EDT

Over the last year, the pandemic has forced California's restaurants to adapt and evolve to keep their doors open. So, we're teaming up with the California Restaurant Association (CRA) to give our restaurant partners the support and resources they need most.

Through this partnership, local restaurants will have greater access to resources provided by the CRA to help them as we continue to make our way through this pandemic, such as free legal advice, a dedicated referral helpline, discounts through the CRA Marketplace, industry newsletters, Covid-related industry insights, and more, as well as access to an affordable and accessible delivery option through DoorDash. Restaurants that are members of the CRA will also be eligible for a biannual rebate through this exclusive program, administered by the CRA. By navigating to the new or existing CRA membership page, restaurants can join or enroll in the membership rebate program by clicking on the 'Register Now Button.'

'The past 18-plus months have been a nightmare for restaurant owners, and while we have been working day-in and day-out to help them survive the challenges of the pandemic, our help alone simply is not enough,' said Jot Condie, President and CEO of the CRA. 'We are excited to partner with DoorDash to give local restaurants some additional support as they continue to navigate the trials of running a small business during a pandemic.'

In addition to the bi-annual rebate checks for restaurant members of the CRA, the partnership also provides current and new CRA members access to DoorDash's updated and flexible partnership plans. Inspired by feedback from local DoorDash restaurant partners, the updated pricing gives restaurants more choices so they can choose a plan that's right for them, with commission rates starting as low as 15% for delivery orders and 6% for pick-up orders.

'DoorDash has always been committed to supporting merchants, and our partnership with the California Restaurant Association allows us to extend our merchant-focused initiatives and programming to local restaurants at a time when they need it most,' said Mariah Ray, Head of Strategic Partnerships and Innovation Policy at DoorDash. 'We're proud to partner with the CRA as we find new, meaningful ways to support restaurants of every size across the Golden State. From grant opportunities to expanding our pricing plans to match the needs of every business, we hope this initiative will set up merchants for success.'

Supporting Main Street and Small Businesses

In the last year, restaurants bore the brunt of an unpredictable economy - juggling indoor dining room closures, new food safety protocols, and fluctuations in demand. At DoorDash, we are committed to serving restaurants of every size and proud to serve businesses powering the main streets of every community.

As part of our Main Street Strong Pledge, which commits to spending $200 million over five years to grow and empower local economies, DoorDash supported local restaurants facing financial hardship through a $10 million grant program that ran this past winter, which supported nearly 2,000 restaurants in 23 cities and 7 states in the United States and Canada. In California, the grant program awarded a total of $845,000 to restaurants in four cities - San Francisco, San Diego, Sacramento, and San Jose - which were especially affected by indoor dining restrictions and declining restaurant revenues during the height of the pandemic.

Just this year, we partnered with RE:Her, a national non-profit organization dedicated to the advancement and empowerment of women restaurateurs in Los Angeles and beyond. We helped provide 15 $10,000 cash grants to female-identifying food and beverage entrepreneurs and small business owners across Los Angeles County from a variety of backgrounds, ages, and business types. Recipients of these grants have the flexibility to use these funds where needed to best support their businesses.

This year DoorDash is a proud sponsor of Dine Latino Restaurant Week (Sept. 28-Oct.3rd), a signature program of the Latino Restaurant Association (LRA) whereby more than 80 Latino restaurants throughout Southern California offer special lunch and dinner fixed menus. With the disproportionate impact of COVID on Latino-owned businesses, this program is designed to provide relief, recovery, and visibility to those restaurants participating in Southern California.

We know that small businesses and restaurants have faced immense challenges in the last year. We are proud to support them not only to stay open but grow, as communities and local economies navigate through this new normal.

Disclaimer

DoorDash Inc. published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 16:11:04 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 4 699 M - -
Net income 2021 -374 M - -
Net cash 2021 3 740 M - -
P/E ratio 2021 -185x
Yield 2021 -
Capitalization 71 957 M 71 957 M -
EV / Sales 2021 14,5x
EV / Sales 2022 12,0x
Nbr of Employees 3 886
Free-Float 90,5%
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DoorDash, Inc. Technical Analysis Chart | DASH | US25809K1051 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 212,93 $
Average target price 205,90 $
Spread / Average Target -3,30%
EPS Revisions
Managers and Directors
Tony Xu Chief Executive Officer & Director
Christopher D. Payne President & Chief Operating Officer
Prabir Adarkar Chief Financial Officer
Louis John Doerr Independent Non-Executive Director
Alfred Lin Independent Non-Executive Director
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