With consumer spending slowing down, DoorDash is hoping to entice people to keep spending on takeout and other goods with its first credit card.
"Whether it's 32 million users of DoorDash or 15 million DashPass subscribers, even a small fraction of that adopt and are going to be saving hundreds of dollars — we're talking billions of dollars back in the pockets of our consumers — that's one thing that gets us really excited," Keith Yandell, DoorDash chief business officer, told Cheddar News.
Though many in the retail space have warned that people are spending less, DoorDash has been beating analyst expectations on spending. During its most recent earnings report, the company beat the Street's estimates on revenue and provided projections for gross value order that would top expectations for the upcoming quarter.
"Last year this time, I got a bunch of questions about what's going to happen post-pandemic," Yandell said. "Are people still going to use these services that have really become utilities, services like DoorDash? What we saw, in the post-pandemic timeframe that we continue to see in the inflationary time period, is the demand is pretty sticky."
Yandell credited DoorDash with continuing to improve the quality, selection, and price as to why people are still ordering. It added more than 100,000 non-restaurant merchants, ranging from pet products to beauty items, to add convenience, and made other changes to speed up deliveries.
But at the end of the day, users are worried about price especially in budget-conscious times. DoorDash transaction fees went down 8 percent in 2022, and the company wants to continue to lower them.
The new credit card, which was launched in partnership with Chase and Mastercard, is part of the plan to make things more affordable, Yandell said. It offers 4 percent cash back on DoorDash and caviar orders, as well as 3 percent back on other restaurant purchases. Users will also get 2 percent back on groceries, and 1 percent on all other purchases. In addition, card users who spend $10,000 will get a free subscription to DashPass, the company's discount subscription service.
"The goal is ultimately to get to zero (fees), and that's not going to happen overnight," he said. "But we're going piece by piece, trying to make the platform as efficient as possible."
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
