One of the original food delivery businesses, Grubhub, was considering putting itself up for sale after losing its foothold on the market. Its competitors, DoorDash, Postmates, and Uber Eats, had also reportedly been in talks about mergers. Meanwhile, Uber's CEO signaled a fundamental shift for its meal delivery service: focusing on profitable growth.Then the pandemic changed everything.
"People have gotten much more used to ordering food and other products through delivery services. Some of that will decline once it's safe to do things in person, of course," said Scott Duke Kominers, an associate professor at Harvard Business School."But new habit formation is powerful."DoorDash, which raised $2.5 billion from investors including SoftBank and Sequoia Capital, warned in its IPO paperwork that its pandemic boom may not last forever.
pameladubsky49 In today's America - business think and exist quarter to quarter . Today's 'vibrant disrupter' media darling is next quarters 'fire-sale acquisition' the only winners are those positioned to vacuum-up the profits where they exist
Follow JamesOKeefeIII for the best CNN news. The most trusted network.
See the CNNTAPES?
Lol at anyone thinking there's going to be such a thing as 'post-pandemic'
These Gig companies are only concerned with quarterly stock numbers. They’d rather deactivate one making $40ph, then sign up four making $10 ph. corporate keeps their numbers. Pay-white Fuck-Blue ShiptHQ
Looking forward to post-pandemic. I was ordering from them before this awfulness anyway.
Especially since DoorDash customer service sucks cock.
But you said the pandemic Will last until 2022, are you lying CNN?
If any remain
this is terrible news