As the food home delivery industry consolidates, it appears there will be one truly dominant service left standing: Uber.
There is one clear exception. As the food home delivery industry consolidates, it appears that, despite West’s warning that “no one man should have all that power”, there will be one truly dominant service left standing: Uber.
In 2020, the most recent year for which Deliveroo’s financials are available, it generated about $117 million in fee revenue and a $7.8 million profit after income tax. DoorDash pulled in about $53 million that year. Menulog’s finances are not available from the corporate regulator, suggesting it does not meet the threshold for being a “large proprietary company”, which includes $50 million in annual revenue.None of these companies directly answered questions about their Australian financials.
He also sees some strategic missteps, including a focus on higher-end restaurants. Meanwhile, Uber leveraged its existing rider and driver base to add grocery delivery to its services, capitalised on its first-mover advantage to build a strong brand, and has slick apps. It got ahead of job cuts by laying off thousands in 2020 and has rebuilt from a period of shaky performance in the pandemic as more migrants enter countries such as Australia post-pandemic.
DoorDash’s revenue grew 300 per cent from 2020 to 2021, hitting almost $160 million with little fanfare, according to filings with ASIC. And it has pursued high-profile sponsorships of sporting events from the NRL to esports tournaments for the wildly popular computer game League of Legends.Meanwhile, rising interest rates and concern about consumer confidencemean the funding environment for high-risk, high-reward, loss-making start-ups has sharply turned too.
All that remains of Voly is its name, some intellectual property, 10 store sites, two offices and some stock. “Obviously food is perishable but alcohol is not,” Vouris says.At a speech to a union function in August, Workplace Relations Minister Tony Burke was in a fighting mood. Gig economy work,, was “spreading like a cancer” through the economy and driving down wages.
Since starting at the company in 2017, Khosrowshahi has consistently tried to distance himself from the tenure of pugilistic founding chief executive Travis Kalanick but kept the basic gig economy model intact. Asked on that October trip about Uber’s brash entrance into Australia, where it upended the taxi industry and moved quickly to win customers and political influence, Khosrowshahi preferred to talk about the future.
“Independent work plays an important role in our communities and economy, and we’re committed to improving standards for all gig workers, no matter what platform they use,” the spokesman said. “We want to continue working with the government to protect access to flexible work while ensuring Australia remains an attractive place for businesses to innovate and invest.”