Wednesday, May 29, 2024

"Deliveroo, Just Eat Takeaway, Delivery Hero, and Doordash lose nearly £16bn over seven years"

And do the investors who subsidized each and every delivery get any thanks?

From CityAM, May 29:

Europe and the US’s top online food delivery companies have collectively lost over $20bn (£15.6bn) in operating losses over the past seven years as the stocks languish.

Following the pandemic-induced surge in demand, shares in pandemic darlings Deliveroo, Just Eat Takeaway (JET), Delivery Hero, and Doordash have plummeted amid a macroeconomic climate that has led to weaker consumer spending.

These firms have seen their cumulative annual operating losses reach $20.3bn (£15.9bn), according to analysis by the Financial Times and industry expert

The figure spans the seven years since Deliveroo, Delivery Hero, and Doordash went public and includes the period after Just Eat Takeaway emerged from a 2020 merger....