Growth and efficiency aren't opposites — they're phases. Knowing which phase you're in is the job.
Source document — DoorDash 2023 Annual Shareholder Letter · SEC EDGAR · EX-99.2 · DoorDash, Inc. · EX-99.2 · filed 2024-02-15 · Accession 0001628280-24-005043
Excerpt · In DoorDash Leadership's own words
Our mission is to grow and empower local economies and our primary financial goal is to maximize long-term free cash flow per share. In 2023, we helped generate nearly $50 billion in sales for hundreds of thousands of local merchants, provided opportunities for over 7 million Dashers to earn over $15 billion, and allowed tens of millions of consumers to save hundreds of millions of hours. After a rapid expansion in the surface area of our business from 2020 through 2022, 2023 was, in many ways, a year of organizing our efforts and focusing on the key inputs that help us build scale efficiently. We improved unit economics in all major areas of our business, significantly reducing our GAAP Net Loss and more than tripling our Adjusted EBITDA. The improvements to our product helped drive double-digit year-over-year growth in Monthly Active Users and growth in average order frequency through the vast majority of 2023. If we are to become a foundational element of local commerce in the digital era, we must execute at a high level to improve the efficiency and effectiveness of our existing services, but also innovate to build entirely new products, services, and processes. These are distinct skills and our hope is that 2024 will be an excellent year for our development of both.
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How this surfaced
- Source type
- SEC EDGAR Filing
- Case / record
- SEC EDGAR · EX-99.2
- Citation
- DoorDash, Inc. · EX-99.2 · filed 2024-02-15 · Accession 0001628280-24-005043
- Date authored
- February 15, 2024
- License
- Public domain
- Original
- View the primary source →
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