Food delivery service DoorDash stepped into the coveted “unicorn” club with its latest $535 million funding round, which values it at $1.4 billion.
And CEO Tony Xu wants to make sure the company is “scaling quality as we scale quantity,” Xu told Cheddar.
“We’re going to be growing to every zip code in every city in North America. As a result, we have to make sure that we keep focusing on the basics.”
DoorDash operates in an increasingly competitive space with brands like Seamless, GrubHub, and UberEats all vying for domination.
To stay ahead, Xu says his company focuses on maintaining a variety of merchants.
“It starts with offering the broadest selection and offering at the highest quality [with] a consistent level of service.”
He pointed out that DoorDash serves 90 percent of the top 100 restaurant brands that offer delivery. “That’s more than all our peers combined.”
Going forward, Xu sees DoorDash automating parts of its delivery logistics.
“We’ve been working with autonomous delivery systems for about three years now,” said Xu. “It’s really a very difficult problem because you’re talking about solving the first- and last-10-feet problem. So this is going to take some time before it truly develops.”
Xu also envisions using DoorDash’s technology to get industries beyond restaurants online. “When you can deliver a burrito hot and deliver ice cream that does not melt, you can deliver just about anything.”
But Xu didn’t go into any details of the industries that DoorDash is eyeing next.
For the full interview, [click here](https://cheddar.com/videos/doordash-raises-535-million-in-series-d-funding).
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Starbucks’ AI barista aims to speed service and improve experience. Nick Lichtenberg, Fortune Business Editor, explains its impact on workers and customers.
As Big Tech reports Q3 earnings, investors await proof that massive AI and cloud investments from Meta, Apple, Microsoft, and Alphabet are driving real growth.
Eric Trump joins us to discuss American Bitcoin’s mission, market strategy, and why he believes the U.S. must lead the next era of digital currency innovation.
Unreal Snacks CEO Kevin McCarthy shares how dye-free candy is leading the sweets revolution—just in time for what could be a record-breaking Halloween 2025.