DoorDash Exits Four Markets to Focus on Core Growth – Stock Rises 5%
DoorDash is retreating from Qatar, Singapore, Japan, and Uzbekistan, redirecting resources toward markets with stronger growth potential. The MOVE follows a strategic review of operations in competitive regions where rivals like GrabFood, Foodpanda, and Yandex Eats dominate.
Concurrently, the company is shuttering Deliveroo's Bengaluru engineering hub, reallocating talent to priority initiatives. Despite the restructuring, DoorDash reaffirmed its financial guidance, signaling confidence in long-term profitability.
Shares climbed 5% on the announcement, though year-to-date performance remains down 21.3%. The stock trades NEAR $173.06 as investors digest the strategic pivot.
DoorDash continues diversifying beyond delivery with its $1.2 billion acquisition of SevenRooms, positioning itself against reservation platforms like OpenTable and Resy.
