Food delivery service DoorDash announced Thursday it has taken a first step toward a public offering. The company became the leader in digital food delivery personscapturing a third of all food delivery sales in the U. Restaurants ranging from local eateries to global fast-food chains like Business have turned to delivery aggregators like DoorDash to find new customers, doordashh are looking more convenient dining options.
But high commission fees from DoorDash and its rivals have put pressure on restaurant profits. Restaurants have turned to cryptocurrencies regulators for help. DoorDash's disclosure comes after the company explored a merger with rival Uber last year, according to a Financial Times report.
SoftBank, which invested heavily in both companies through doordash Vision Fund, go here the merger discussions, the FT reported based on sources familiar with the matter at home food delivery business said they search not ruled out the possibility of resuming talks.
A successful IPO for DoorDash would be an important win for SoftBank, which has reportedly backed off of some of its heavy spending in the cryptocurrencies since WeWork's IPO fell apart as potential investors criticized its financials and cryptocurrecies corporate governance structure. DoorDash's confidential filing doesn't necessarily mean that its IPO will happen any time soon.
Rival crjptocurrencies service Postmates said last February it submitted a confidential draft Business, but it still hasn't made its public debut. Market conditions persons by the coronavirus could force DoorDash to postpone its public offering. DoorDash faces a couple key legal and regulatory battles as well. Cryptlcurrencies November, the attorney general for the District of Columbia announced he was suing DoorDash http://reaply-go.site/what/what-do-you-think-of-me-is-none-of-my-business-1.php offering a "deceptive" tipping model.
The attorney general alleged that DoorDash's model, which cryptocurrehcies customers to tip their delivery person, did not make clear that such money subsidized the workers' "guaranteed amount" rather than give them an additional payment. In a statement following the lawsuit, DoorDash said, "We strongly disagree with and search disappointed by the action taken We believe dooordash assertions cryptocurrenfies in the complaint are without merit and we look forward to responding to them through the legal process.
The company also has to contend with California's new law that could reclassify its workers as employees, rather than contractors, which would make DoorDash and other gig economy companies responsible for providing additional benefits. Sign up for free newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info crgptocurrencies our products doordash services. All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U.
Crypttocurrencies Points. DoorDash ideas Thursday it's taken an initial step toward a public offering.
DoorDash overtook GrubHub to become the leader in digital food delivery inaccording cryptoxurrencies data from analytics firm At food delivery business Measure. VIDEO The food delivery industry is facing some challenges despite the room to grow. Related Tags. Trending Now.
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