DoorDash — Key Facts
| Founded | January 2013 |
| Founders | Tony Xu, Stanley Tang, Andy Fang, Evan Moore |
| Stock Ticker | NYSE: DASH |
| Headquarters | San Francisco, California, USA |
| CEO | Tony Xu (co-founder) |
| US Market Share | ~67% of food delivery market |
| Revenue (2023) | ~$8.6 billion |
DoorDash is the leading food delivery and local commerce platform in the United States, controlling approximately 67% of the US food delivery market. Founded in 2013 by Stanford students, DoorDash connects consumers, merchants, and delivery workers (Dashers) through its marketplace platform. The company went public in December 2020 in one of the largest tech IPOs of that year, and has since expanded beyond food delivery into grocery, convenience, and alcohol delivery.
Who Owns DoorDash?
DoorDash is a publicly traded company (NYSE: DASH) with no single controlling shareholder. The company was founded by Tony Xu, Stanley Tang, Andy Fang, and Evan Moore in January 2013. Tony Xu remains CEO and holds a significant but non-controlling stake. The largest institutional shareholders include SoftBank Group (which holds a significant stake from its Vision Fund investments), Vanguard Group, and BlackRock. SoftBank was an early major investor in DoorDash and retains a meaningful ownership position post-IPO. Evan Moore, one of the original co-founders, departed early in the company’s history.
History and Founding
DoorDash was founded in January 2013 by four Stanford students — Tony Xu, Stanley Tang, Andy Fang, and Evan Moore — after conducting interviews with local restaurant owners in Palo Alto who expressed difficulty with delivery logistics. The company launched as “Palo Alto Delivery” before rebranding to DoorDash. It grew rapidly through Silicon Valley and expanded nationally, competing aggressively with Grubhub, Uber Eats, and Postmates (which Uber acquired in 2020). DoorDash’s December 2020 IPO raised approximately $3.4 billion at a valuation of $39 billion.
Business Model and Expansion
DoorDash operates a marketplace connecting customers with restaurants and other merchants, charging commission fees to merchants and delivery fees/service charges to consumers. Delivery workers are independent contractors (“Dashers”). The company expanded into grocery delivery (via partnerships with Kroger, Safeway, and others), convenience delivery, and international markets including Canada, Australia, and parts of Europe. DoorDash also operates DashPass, a subscription service offering reduced delivery fees for members, which has grown to millions of subscribers.