The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
DoorDash, in its latest funding effort, has raised $250 million, valuing the food delivery service at $4 billion.
The latest round — announced Thursday and led by tech investment firms Coatue Management and DST Global — came after the 5-year-old San Francisco-based start-up in March raised $535 million.
That round was led by SoftBank's $100 billion Vision Fund at just a $1.4 billion valuation.
DoorDash, which competes with GrubHub, Uber Eats and Postmates, has raised nearly $1 billion overall.
Tony Xu, co-founder and CEO of DoorDash, told CNBC on Friday that he plans to use that new money to work toward serving every city in the U.S. and Canada and getting more restaurants on board.
In the March capital raise, he had said he hoped to be in 1,600 cities by year-end.
In Friday's "Squawk Box" interview, he said, "We're actually ahead of target and we'll be ending the year closer to 2,000 cities."
DoorDash overall is not yet profitable.
"As a company, we are contribution margin positive. We've been that way for six straight quarters now, which means we pay off all of our variable expenses and all that's left are the fixed costs," Xu said.
"We are profitable in our earliest markets," he added.
The average delivery fee at DoorDash is a little less than $5, plus any tip the customer may give. The company also reportedly takes about a 20 percent commission fee from the restaurants.
Xu sees a business opportunity in its infancy at large chains and other restaurants that haven't traditionally provided delivery.
"Only 6 percent of restaurant sales are delivered if you exclude pizza. Pizza today is half of delivery. Forty years ago, pizza was only 4 percent delivered," he said. "If you think about the future trajectory of ... nonpizza, many of these establishments that DoorDash has built relationships with, this is very, very early days."
In addition to partnerships with restaurants, DoorDash also forged a grocery delivery deal with Walmart, which expanded to nearly 300 stores, in 20 states, in the last four months.