WASHINGTON (dpa-AFX) - DoorDash Inc (DASH), Tuesday announced that it is raising service fees in Seattle this month to offset steep regulatory expenses that pushed the company into a 2024 loss in the city.
Local restaurants saw monthly DoorDash revenue dip 2 percent, while peers in similar cities grew 10 percent. Drivers or 'Dashers' receive half as many daily offers and face triple the wait times, leading to a 20 percent drop in earnings.
DoorDash urges Seattle leaders to ease these regulations to relieve pressure on consumers, merchants, and drivers.
DASH is currently trading at $241.94, down $4.95 or 2.00 percent on the Nasdaq.
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