DoorDash Inc - Ordinary Shares - Class A

Acquisition Strategy and Growth Opportunities: DoorDash announced its intention to acquire Deliveroo and SevenRooms, reinforcing its focus on expanding its international business presence in Europe. The CEO emphasized that the combined scale would enhance their ability to introduce local commerce products and improve profit pools, particularly in regions where Deliveroo operates. This is expected to help DoorDash gain market share in Europe, where it's currently aiming to improve its position.

Strong Q1 Performance with Growing EBITDA: The company's Q1 2025 results showed solid year-over-year growth in Gross Order Value (GOV) and EBITDA. The management highlighted that the performance of new verticals, especially grocery, is strong, and they expect continued year-over-year growth in EBITDA, targeting improvement in both revenue and profit dollars.

Affordability Initiatives Impacting Take Rate: The company is leaning into affordability initiatives to drive more consumer engagement and increase order frequency. Although this strategy impacted the take rate, management believes it will ultimately result in higher overall profit dollars. Q1's take rate decline was attributed to seasonality and investments in customer value, with expectations of a rebound in Q2 and the second half of the year.