In 2023, DoorDash, the leading American food delivery company, generated a total annual revenue of $8.6 billion across all its markets, marking a 31 percent increase year-over-year. These figures also include the revenues of Wolt, the leading European food delivery company that DoorDash acquired in 2021.
The company operates in the United States, Canada, Australia, and New Zealand, but through Wolt, its fully-owned subsidiary, it also has a presence in 23 European markets.
Founded in 2013 by Tony Xu, Stanley Tang, Andy Fang, and Evan Moore, DoorDash connects customers with local restaurants through its website or mobile app, providing on-demand food delivery by independent contractors called Dashers. The firm makes money through restaurant commissions, advertising, and customer delivery fees.
As the chart explains, DoorDash experienced rapid revenue growth form 2018 to 2019, with revenue nearly tripling from $291 million to $885 million. This growth momentum continued into 2020 and 2021, with revenue reaching $2.9 billion and $4.9 billion, respectively.
The company further grew its revenues to $6.6 billion in 2022.
DoorDash went public in December 2020 with a market cap of $39 billion. Its market cap at the time of $46.8 billion.
