Ballard Partners has picked up Doordash, the food delivery service that hasn’t chalked up a profitable year in its eight years of operation.
The San Francisco company’s red ink flow is expected to continue in 2021 as it posted an $11M loss in Q1 despite a 198 percent surge in revenue to $1.1B compared to the pandemic-impacted year-ago period.
Doordash co-founder Tony Xu and CFO Prabir Adarkar took a pessimistic note in their letter to shareholders, saying the successful rollout of COVID-19 vaccines is expected to increase in-restaurant dining rates, dealing a blow to Doordash’s food delivery business.
The company has made diversifications from food delivery, which generates more than 90 percent of overall revenues, by stepping up delivery of alcohol, groceries, flowers, gifts, pet supplies and convenience store items.
Ballard Partners provides DC representation for Doordash in the areas of labor issues, consumer and general business matters.
Brian Ballard heads the three-member team that includes Syl Lukis and Eugene O’Flaherty.