Why DoorDash Shares Are Trading Higher Today

DoorDash Inc DASH shares are trading higher by 5% at $175.52 after the company, and Albertsons Companies, announced a new partnership to offer on-demand grocery delivery from nearly 2,000 well-known Albertsons banner stores across the country.

DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the U.S.

DoorDash provides a marketplace for the merchants to create a presence online, market their offerings and meet demand by making the offerings available for pickup or delivery. The firm provides similar services to businesses in addition to restaurants, such as grocery, retail, pet supplies and flowers.

At the end of 2020, DoorDash had over 450,000 merchants, 20 million consumers and over 1 million dashers on its platform. In 2020, the firm generated $24.7 billion in gross order volume (up 207% year over year) and $2.9 billion in revenue (up 226%).