At the start of the month, food delivery service DoorDash announced it raised another $535 million in Series D funding. The company is looking to expand their reach and employee numbers with these funds.
Tony Xu is the CEO of DoorDash. He joins Cheddar to explain some of their goals with this new round. DoorDash is looking to grow their employee base from 550 to 800 employees over this next year. The growth will mostly be in engineering and sales.
Xu also says DoorDash is expected to spread from 600 cities to around 1600 cities across North America this year as well. Another focus for DoorDash will be building a strong platform for "last mile logistics."
When asked what advice Xu instills on his employees, the CEO says he tells them to keep focused on the smallest level of details. In his opinion, that is what's gotten the company to where it is today.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Bristol Myers Squibb agreed to buy schizophrenia drug maker Karuna Therapeutics in a $14 billion deal.
Supermarket chain Ralphs is facing a new lawsuit from the state of California.
Shake Shack is giving out free fried chicken sandwiches, bacon cheese fries and milkshakes nationwide.
The IRS is announcing a voluntary disclosure program.
Lionsgate announced its studio division is going to spin off in a merger with Screaming Eagle Acquisition Corp., which is a special purpose acquisition company.
A new report suggests that it's getting more difficult for an average American to afford a home.
The Food and Drug Administration warned consumers about a copycat version of the diabetes drug Ozempic.
Tesla is reportedly moving forward with its plan to make energy shortage storage batteries in China.
Wells Fargo employees at a branch in New Mexico have voted to unionize.
