23 Revealing DoorDash Statistics for 2024: The Essential Guide

You‘ve likely heard of DoorDash. As one of the top food delivery apps in the U.S., it‘s brought convenience and unlock a world of culinary options to millions of hungry consumers.

But do you really know the full story behind this rapidly expanding delivery empire? What‘s driving this unstoppable growth? How dominant have they become in the food delivery space? And what does their future look like as they venture into new international markets?

I decided to dive deeper into the key DoorDash statistics for 2024 to uncover the jaw-dropping numbers behind this delivery giant and why they’re positioned to continue leading the online meal delivery market in the years ahead. Let‘s explore!

Stellar Revenue Growth Reaching $7.8 Billion

DoorDash generated a whopping $7.8 billion in total global in 2022 revenue. This represents 51% year-over-year growth from $5.1 billion in 2021 – outpacing rivals.

To put DoorDash‘s 2022 revenue into perspective, this exceeds what Southwest Airlines makes annually! A food delivery app nearing the revenue scale of major airlines demonstrates immense industry dominance.

So what’s driving DoorDash’s incredible top-line growth? New customer acquisition has accelerated as DoorDash expands into new territories and offers promotions. Plus existing customers are ordering more frequently thanks to app stickiness, a wide merchant selection exceeding 900,000 partners globally, and 60 million+ monthly active consumers.

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I expect strong double digital revenue expansion to continue in 2024 considering DoorDash‘s current standing. Investments into new markets like Japan and Spain will further fuel top-line growth.

DoorDash Enjoys 59% Food Delivery Market Share

DoorDash has a commanding 59% market share of all US food delivery sales as of January 2023, per Bloomberg Second Measure. This gives DoorDash nearly triple the share of its closest competitor Uber Eats at just 24%.

And DoorDash continues gaining more ground. Their market share grew a full 2 percentage points year-over-year while rivals GrubHub (14% share) lost share.

How did DoorDash become so dominant? Aggressive expansion into new cities, exclusive partnerships with major chains like The Cheesecake Factory, plus providing exceptional service levels using its vast Dasher workforce powered this leading market position.

I predict DoorDash will surpass 60% market share in 2024 as more restaurants join its platform and competitors falter. Network effects make leading delivery apps more entrenched over time as both merchants and consumers flock to the largest player – creating a virtuous cycle further cementing DoorDash‘s status.

40 Million Monthly Users as of Late 2022

The number of monthly active consumers on DoorDash swelled to over 40 million globally as of late 2022. This was up 33% year-over-year – the highest user growth rate among top U.S. delivery apps.

This avalanche of new DoorDash customers demonstrates the tremendous demand for convenient online meal ordering and delivery. More people than ever have developed a DoorDash habit thanks to an amazing selection of nearly one million global partners.

And monthly active user growth is actually accelerating from an already-high base rather than showing any signs of slowing. I forecast DoorDash will cross 50 million MAUs before 2024 based on current momentum.

Dasher Earnings Reached New Heights

The army of delivery drivers fuelling DoorDash‘s hypergrowth – known as Dashers – collectively earned over $9 billion in 2022 according to the company, up 34% YOY.

Top Dashers report earning between $25 – $30 per hour when accounting for tips and bonuses – with wages hitting a neat $1k weekly for full-timers. This clearly demonstrates why so many flock to deliver with DoorDash despite amplified recession fears.

And robust Dasher pay persists despite economic clouds on the horizon. DoorDash plans continued investments in new shopper attraction and retention programs – ensuring reliable consumer fulfillment.

I believe Dasher earnings-per-hour will continue rising in 2024 as DoorDash funnels more high-value orders to top Dashers while passing costs to merchants and consumers relatively unimpacted by inflationary pressures given food delivery‘s perceived utility as an essential service.

Total Bookings Hit $14.3 Billion

Here’s another mind-blowing DoorDash metric for 2024 – total gross order value (GOV) facilitating on its platform skyrocketed to $14.3 billion in Q3 2022. This was up 33% year-over-year showcasing tremendous order volume expansion behind-the-scenes matching massive user adoption.

To put such enormous GOV scale into perspective – this equals over one and a half times McDonald’s total 2021 U.S. systemwide sales revenue driven just through DoorDash orders.

Such tremendous order facilitation powers DoorDash’s revenue engine. Each and every one of those billions in consumer bookings nets DoorDash a tasty commission. So I anticipate this GOV figure expanding to near $60 billion in 2024 as more diners shift online.

Small Businesses Get Spotlight

A key pillar behind DoorDash’s success? Serving the long-tail with 87% of partners being small businesses who‘ve traditionally struggled reaching new customers. This sprawling network covering every neighborhood powered 1 billion total deliveries by late 2022.

And DoorDash still sees massively under-tapped potential helping Main Street merchants thrive in the digital era with new services like storefront creation and targeted local ads.

Over 1 million small businesses could potentially join the platform per DoorDash. So deepening its already-extensive local shop footprint will accelerate 2023 growth by better serving customer cravings. I foresee this small business merchant base doubling within two years.

Ongoing International Expansion

While DoorDash undoubtedly dominates food delivery in its home U.S. market, international expansion introducing its frictionless local commerce model abroad offers fresh greenfield opportunity.

Recent highlights include DoorDash launching in Germany then acquiring the country‘s largest app Wolt for $8 billion, expanding into Spain, and entering the lucrative Japan market.

DoorDash ultimately sees a $1 trillion+ total addressable market globally for local commerce facilitation. So investments outside U.S. borders will continue in 2024 and beyond as DoorDash marches towards its grand global ambitions one territory at a time.

I project international markets driving at least 15% of total 2023 bookings, and likely much higher in future years with consolidated international market share nearing U.S. levels over the long-run.

When Will DoorDash Turn a Profit?

Despite jaw-dropping growth, DoorDash still loses money on every order as it plunges profits back into customer acquisition and platform expansion. This leads investors to ask: When will the app finally turn a profit?

Q3 2022 marked measurable progress towards future profitability with DoorDash generating its first-ever quarter of positive operational EBITDA (earnings before interest, taxes, depreciation plus amortization) totaling $83 million.

I strongly believe DoorDash will reach quarterly net profitability by mid-2023. Massive scale driving greater efficiency and rising fees charged to consumers and merchants should propel near-term positive net income assuming no major slowdown. Slimming losses demonstrate DoorDash following a similar playbook towards profit scale perfected by Amazon which focused on revenue growth before margins.

More Growth Expected in 2024 & Beyond

In all, these DoorDash metrics conclusively demonstrate a delivery leader still gaining steam across every key benchmark – whether its order volume, restaurant partners, revenue, market share, or global expansion. I forecast this momentum carrying through 2023 and beyond fueling continued category dominance.

While rivals also facilitated billions in 2022 food delivery sales, DoorDash remains the undisputed king – outperforming competitors often several times over on metric after metric. And the app shows no signs of crowning new royalty anytime soon.

So what does this all mean for those wondering whether to invest in DoorDash or when to use its services? Its leading status consolidating the future of restaurant ordering and delivery looks highly secure. I give the app‘s stock a ‘buy‘ rating given the immense TAM and ongoing execution towards profitability. And I‘d wholeheartedly recommend consumers give this top delivery provider with the speediest service and restaurant choice a try next time hunger calls.

What surprising DoorDash statistics stand out to you for 2024? Let me know in the comments!