DoorDash Stock Rises 5% After Hiring Former Amazon Exec to Expand Delivery Options

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DoorDash Stock Rises 5% After Hiring Former Amazon Exec to Expand Delivery Options

seekingalpha07-26

Shares of DoorDash are getting a boost on Friday following reports that the company has hired an executive to expand its offering of delivery services to merchants.DoorDash sales were up more than 5%....

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Adarkar was moved over into the COO role from CFO in an effort to focus on diversifying delivery outside of restaurants, a strategy the company views as key to future growth.Over the last several years, DoorDash has moved from exclusively restaurant delivery to merchandise from Target (TGT), Dick’s (DKS), Best Buy (BBY), and Lowe’s (LOW), among others. Called “white-label delivery”, consumers can order items from a retailer’s website and have it delivered directly to them from third-party platforms like Uber and DoorDash, rather than go through traditional parcel delivery companies like the U.S. Postal Service, UPS, or FedEx, avoiding potential delays and logistic challenges.In addition to white-label delivery, DoorDash is also exploring initiatives to develop software that would allow merchants to build online storefronts and accept online payments, as well as accepting e-commerce returns directly from consumers and delivering to UPS, FedEx, or the U.S. Postal Service, The Information says.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Executive Changes","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":9,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}