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SAN FRANCISCO - DoorDash (DASH), the food delivery giant with a market capitalization of $116.4 billion and an impressive 90.9% stock return over the past year, announced Tuesday the launch of its first commercial autonomous delivery robot called Dot, alongside a major partnership with Kroger that will add nearly 2,700 stores to its platform beginning October 1. According to InvestingPro analysis, DoorDash maintains excellent financial health with strong liquidity metrics, though the stock appears to be trading above its Fair Value.
The autonomous delivery robot, developed in-house by DoorDash Labs, is designed to travel across bike lanes, roads, and sidewalks at speeds up to 20 mph. The electric-powered Dot is currently operating in the Phoenix metro area through an early access program.
DoorDash also revealed a new "Going Out" feature that integrates restaurant reservations directly into its app through a partnership with SevenRooms. The feature allows users to book tables without cover fees while earning credits toward future orders.
For merchants, the company introduced SmartScale, a hardware solution aimed at reducing order errors by up to 30% through weight verification technology. Panera Bread has implemented this system nationwide across various ordering channels.
The company announced DashMart Fulfillment Services, a new offering that allows retailers to leverage DoorDash’s network for inventory management and delivery. Current partners include CVS and Party City, with Kroger joining soon.
The Kroger partnership represents DoorDash’s largest grocery expansion to date, bringing the full assortment from Kroger banners including Mariano’s, Fred Meyer, Ralphs, and Harris Teeter to the platform with delivery in as little as one hour. This expansion aligns with DoorDash’s robust revenue growth of 23.8% over the last twelve months, demonstrating the company’s strong market position and expansion capabilities.
Additional app improvements include creator videos for restaurant discovery in select cities, Yelp integration for reviews and photos, AI-powered recommendations, and menu filtering options.
For its delivery workers, DoorDash unveiled an updated map interface, redesigned homescreen, and new earnings opportunities through "Flash Offers" and a "Pro Shopper" program for grocery and retail orders.
According to the company’s press release statement, DoorDash has facilitated over 10 billion consumer orders and driven over $230 billion in sales for merchants since its founding. With a current ratio of 2.07 and strong cash flow metrics, DoorDash shows robust operational efficiency. Discover more detailed insights and 14 additional exclusive ProTips about DoorDash’s financial outlook with InvestingPro, including comprehensive valuation analysis and growth projections in the Pro Research Report.
In other recent news, DoorDash has launched DashMart Fulfillment Services, partnering initially with CVS Pharmacy and Party City to enhance their delivery capabilities without the need for their own logistics infrastructure. This new service leverages DoorDash’s existing network for inventory management and delivery, with Kroger expected to join soon. Additionally, DoorDash has expanded its collaboration with Kroger, offering a full range of grocery delivery from nearly 2,700 stores nationwide through the DoorDash app, promising delivery in as little as an hour.
In a separate development, DoorDash and Yelp have partnered to integrate DoorDash’s delivery network into the Yelp platform, enabling users to transition from browsing restaurant reviews to placing orders seamlessly. This partnership will significantly increase the number of takeout and delivery options available to Yelp users. Furthermore, Mizuho has initiated coverage on DoorDash with an Outperform rating and a $350 price target, citing its strong market position and execution track record.
Lastly, DoorDash’s acquisition of Deliveroo is set to result in significant leadership changes, with Deliveroo’s CEO Will Shu and the entire board stepping down once the deal closes. These developments highlight DoorDash’s strategic moves to strengthen its market presence and operational capabilities.
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