In 2020, as restaurants suspended indoor dining, customers went online to order takeout from hard-hit eateries. DoorDash—the U.S.’s most popular meal-delivery app, helmed by CEO Tony Xu—offered restaurants temporary reductions or exemptions from its commission fees as they adjusted. Sales surged, and a December IPO valued the company at over $70 billion on the day of its debut. Despite Wall Street’s buy-in, DoorDash is unprofitable, and in November, without admitting liability, it agreed to a $2.5 million settlement over claims that it misled consumers by keeping some of the tips intended for its delivery drivers. Now the company is evolving to deliver goods from stores like 7-Eleven and Wawa.
More Must-Reads from TIME
- Donald Trump Is TIME's 2024 Person of the Year
- Why We Chose Trump as Person of the Year
- Is Intermittent Fasting Good or Bad for You?
- The 100 Must-Read Books of 2024
- The 20 Best Christmas TV Episodes
- Column: If Optimism Feels Ridiculous Now, Try Hope
- The Future of Climate Action Is Trade Policy
- Merle Bombardieri Is Helping People Make the Baby Decision
