Nobody Wants To Pay For Ultra Fast Food Delivery

Ultra-fast delivery startups are either folding up or leaving markets, exiting the scene just as quickly as they arrived.

Another sign of potential turmoil for these unprofitable companies? Those that stick around continue to rely on giving users freebies. So far, they haven’t been able to convince customers to pay the full cost of delivery in 15 minutes or less. And while more established delivery players like Uber have been able to rely less on discounts in a pivot toward profitability, the ultra-fast delivery startups are trying to grow amid a volatile market in which both investors and customers are growing more wary of opening their wallets.

Nearly 30% of delivery orders from GoPuff, which is the biggest ultra-fast delivery player in the US, were discounted as of April, according to data from YipitData, a research firm. The share of orders discounted is greater outside of the US. For instance, Getir, a Turkish ultra-fast delivery startup, has over 80% of its orders discounted in countries like Germany and France, according to YipitData.

Tech stocks have plummeted over the past three months, and that has pushed investors to prioritize profits. In response, companies are changing how they do business. For instance, Uber rides and restaurant deliveries have become more expensive. (Unlike the newer ultrafast deliver startups, established delivery players like Uber have been able to pull back on discounts to show investors a clearer path toward profitability.)

Attracting customers with cheap Uber rides and food delivery

Discounting is a way for delivery companies, which depend on scale, to quickly attract and retain customers. Over time, as more of the orders come from customers who have been with the firms for some time, the discounting percentage should go down, said Daniel McCarthy, an assistant professor of marketing at Emory University. For rapid-delivery companies, the fact that discounting share remains high implies a less clear path to profitability.

“There is way too much money that went into this sector,” said Mathias Schilling, a founding partner at Headlines, a venture capital firm that invests in GoPuff. “Six months ago, this is the best thing and incredible… and now everything is negative. This extreme exuberance by the people is like ridiculous.”

The rapid growth of ultra-fast delivery companies

In the past couple of years, as the demand for delivery skyrocketed, ultrafast delivery services with abstract-sounding names—Buyk, Getir, Jokr—came onto the scene. Venture capitalists invested $28 billion into rapid delivery globally, more than double the amount in 2019, according to data from PitchBook, a research firm.

Like Uber’s playbook, these companies, flush with venture capital funding, burned cash fast to move into new markets and attract and retain customers with cheap services. The biggest services like GoPuff, Gorillas, and Getir relied on high order volumes and a shift in consumer shopping habits to achieve profitability, said Alex Frederick, a PitchBook analyst. But the model works best when markets are stable and VC funding is plentiful, he added.

It’s hard to make money in food delivery, as the money is split among retailer or restaurant, food delivery company, and worker. It’s even harder for faster delivery, as it requires hiring workers as employees and often comes with no minimum order. That allows a customer to order a pint of ice cream to be delivered in 15 minutes, a costly loss for ultra-fast delivery companies.

The question now is whether these companies will be able to sustain such losses, at a moment when funding is harder to come by, or will they follow in the footsteps of past rapid delivery companies that sprung up in the dot-com boom before going out of business.

Global downloads of the top 10 ultra fast delivery apps have grown 127%, year-over-year in Q1. With a more granular, monthly breakdown we can see a lot of this growth taking place in Q4 of 2021. As you can see in the chart below, this is a faster growth rate than that of the top 10 meal delivery apps (ex: Uber Eats) or top 10 grocery delivery apps (ex: Instacart). Meal delivery still takes the cake when it comes to absolute numbers.

It is reported to be acquiring French startup, Cajoo, which launched in early 2021 and struggled to gain ground in the country ever since Getir formally launched there in June 2021. This will help Flink compete with Getir in France. Flink says its reach in the country will now be greater than Getir’s but Apptopia estimates have Getir’s app usage comfortably ahead of Flink and Cajoo combined.

Ultra fast delivery companies do not just have each other to worry about. Traditional, or meal, delivery apps have massive brand power, user bases and deep pockets. Apps like Uber Eats are starting to enter the market of fast grocery delivery. Apptopia reported in January that meal delivery apps extending into grocery delivery, a faster growing segment of the delivery market.

Traditional grocery delivery apps are not standing still either. Instacart started offering 30 minute meal deliveries (sushi, salads, sandwiches) from supermarkets like Kroger and Publix. It will also begin offering 15 minute grocery delivery in the near-future.

When will supply chains go back to normal?

Supply chains should slowly recover in 2022, assuming overstuffed ports and warehouses finally get a chance to clear out the glut of containers piling up in shipyards and surrounding neighborhoods. But that will only happen if there aren’t any major new disruptions, like another mega-ship blocking the Suez Canal, future covid variants that shutter factories and ports, or other disasters that gum up the mechanisms of global trade.

Source: Nobody wants to pay for food delivery — Quartz

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Meta Vs. TikTok Vs. YouTube Shorts: The Winner Is Clear Seeking Alpha

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Last Mile Is Being Disrupted Again: Here’s How Retailers Can Hold Their Ground

Last mile delivery: It’s been quite an interesting road to travel these past couple of years, indeed!

Amazon did an end-run around UPS and Fedex by ramping up its own-fleet delivery to 72% of its total shipments. Uber and Lyft drove into the last mile, bringing everything from restaurant orders to auto parts right to their existing riders’ doorsteps. And the Covid-19 pandemic famously heralded in an explosion of last mile grocery delivery via Instacart, Shipt, Peapod and others.

In 2021, however, last mile disruption was itself severely disrupted. Gopuff barnstormed its way to a $40 billion valuation with a curated assortment and ultra-fast delivery model that rendered Walmart’s two-hour express delivery “so last year” and made Amazon’s same-day delivery service seem positively ancient.

Some leading last mile players, meanwhile, encroached on first-party offering territory. Instacart’s setup of micro fulfillment centers (MFCs) drove speculation that it would soon begin selling products directly to consumers, while DoorDash has already begun doing just that, growing its ranks of new DashMarts nationwide.

However you view it, the disruption of last mile has become the flywheel, driving a larger transformation of retail. For traditional brick-and-mortar stores, who were already under pressure to adapt to changing consumer expectations and increased competition, this disruption represents both threats and opportunities.

Barry Clogan, Chief Product Officer at Wynshop. Read Barry Clogan’s full executive profile here.

Source: Last Mile Is Being Disrupted Again: Here’s How Retailers Can Hold Their Ground

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Critics:

Elina Geller, Sam Kemmis

Know your travel goals

This is an important consideration when evaluating what you would like to get out of your points and miles hobby. Do you want to travel several times a year to an exotic location, flying in first class on miles and paying for your hotel on points? Do you want to fly to visit friends and family using miles (but don’t care if you sit in economy or business class)? Or do you just want to learn what travel rewards are all about?

The good news is that regardless of your travel goals, understanding the basics of these currencies can make those goals a reality. Using points and miles to see the world can save a lot of cash. And when you get into this hobby, you begin to realize that all sorts of travel is affordable and within reach.

Setting clear travel goals can also help focus your attention and investigation. If you want to visit Japan, you can focus on relevant airlines and hotel programs while ignoring the rest (for now). This can help avoid overwhelm and the paradox of choice.

Think of points and miles (travel rewards) as another type of currency. Just like stocks, crypto, bonds or foreign currencies, travel rewards present a way to pay for your travel experiences and invest in your travel goals without using cash.

Each travel reward currency has its own value, just like a country’s currency. Many points and miles are worth roughly a cent apiece, but values vary … It’s important to do the math whenever you’re considering a particular offer or promotion to figure out the approximate cash value. 100,000 points might sound like a lot, but it depends on what kind of points they are…..more

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Best airline and hotel rewards loyalty programs this year

Is The Era Of Stay-At-Home Stocks Over? Here’s Why Zoom, Peloton And Others Have Slumped In 2021

Popular stay-at-home stocks like Peloton and Zoom, which surged during the height of pandemic lockdowns in 2020, have taken a beating this year as investors increasingly focus on companies that will benefit from the economy reopening and consumers returning to in-person activities.

Key Facts

While some of last year’s hottest companies saw incredible growth during the pandemic, many are now struggling as earnings show a slowdown in momentum and the wider reopening of the economy gains steam.

Videoconferencing service Zoom and at-home fitness equipment maker Peloton were considered pandemic-era stock market darlings, with shares of each rising roughly 400% in 2020.

As the U.S. economic reopening gained speed in 2021, however, many of the companies at the center of the pandemic stay-at-home trade have seen share prices fall and are vastly underperforming the rest of the market.

Shares of Peloton and online education company Chegg are both down roughly 70% this year; digital real estate marketplace Zillow and virtual healthcare company Teladoc over 50%, Zoom and smart TV company Roku roughly 40%.

While some of those declines can be chalked up to investors increasingly focusing on reopening trades—companies that will continue to benefit from a wider economic recovery—many of these pandemic favorites have also recently reported lackluster earnings that show a slowdown in business.

Peloton saw its stock plunge 35% in a single day after lackluster earnings and slashing its sales forecast for 2022, while Chegg plummeted nearly 50% after its earnings showed revenue took a hit from more schools reopening.

Contra:

Travel stocks—including airlines, casino operators, hotel companies and cruise lines—have all posted larger gains so far this year. Other companies directly tied to the reopening of the economy have performed well in recent earnings: Uber last month reported its first-ever quarterly adjusted profit as demand for ride-sharing recovered, while Airbnb had its “strongest quarter ever” as travel continues to rebound.

Crucial Quote:

“It’s been a tough run for stocks that are keyed to the pandemic,” according to a recent note from Bespoke Investment Group. “This group of stocks is firmly in the ‘distribution’ phase of ownership post-pandemic, with massive valuations and sudden explosions in financial performance of the underlying businesses sliding inexorably into reverse and crushing prices.”

Surprising Fact:

Not all pandemic-era favorites have plunged back down to earth. A few high-flying stocks from last year during the pandemic have continued to rise in 2021, like online retailer Etsy, which jumped nearly 300% in 2020 and is up 34% so far this year.

Follow me on Twitter or LinkedIn. Send me a secure tip.

I am a senior reporter at Forbes covering markets and business news. Previously, I worked on the wealth team at Forbes covering billionaire and their

Source: Is The Era Of Stay-At-Home Stocks Over? Here’s Why Zoom, Peloton And Others Have Slumped In 2021

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More Contents:

Peloton Shares Plunge Over 30%—And CEO John Foley Is No Longer A Billionaire

Chegg Stock Plunges 48% As Revenue Takes A Hit From Schools Reopening

Here’s What Wall Street’s Biggest Banks Predict For Stocks In 2022—And What To Watch For

Here’s How Bad Experts Think Inflation Will Get—And How It Will Affect Markets

“stock Definition”. Investopedia. Retrieved 25 February 2012.

“What Is a Stock And The Different Types of Stocks – A Beginners Guide to The Stock Market”. Warsoption. Retrieved 9 March 2021.

“Cambridge Advanced Learner’s Dictionary”. Dictionary.cambridge.org. Retrieved 12 February 2010.

“Common Stock vs. Preferred Stock, and Stock Classes”. InvestorGuide.com. Archived from the original on 6 January 2019. Retrieved 10 June 2007.

“Rule 144: Selling Restricted and Control Securities”. US Securities and Exchange Commission. Retrieved 18 May 2013.

“Black Scholes Calculator”. Tradingtoday.com. Retrieved 12 February 2010.

“Mercantilism as Strategic Trade Policy: The Anglo-Dutch Rivalry for the East India Trade” (PDF). The Journal of Political Economy. The University of Chicago Press. 99 (6): 1296–1314. doi:10.1086/261801. JSTOR 2937731. S2CID 17937216. at 1299.

The oldest share in the world, issued by the Dutch East India Company

Why Is China Cracking Down on Ride-Hailing Giant Didi?

Just days after Didi Global Inc., China’s version of Uber, pulled off a $4.4 billion initial public offering in New York, the Chinese cyberspace regulator effectively ordered it removed from app stores in its home market, citing security risks. The ruling doesn’t stop the company from operating -– its half-billion or so existing users will still be able to order rides for now. But it adds to the uncertainty surrounding all Chinese internet companies as regulators increasingly assert control over Big Tech.

1. What’s Didi?

It’s China’s biggest ride-hailing company. Didi squeezed Uber out of China five years ago, buying out the American company’s operations after an expensive price war. Its blockbuster IPO on June 30 was the second-biggest in the U.S. by a company based in China, after Alibaba Group Holding Ltd, giving Didi a market value of about $68 billion.

Accounting for stock options and restricted stock units, the company’s diluted value exceeds $71 billion — well below estimates of up to $100 billion as recently as a few months ago. The relatively modest showing reflects both investors’ increasing caution over pricey growth stocks, and China’s recent crackdown on its biggest tech players.

2. What is this investigation about?

The specifics are still very unclear. Two days after the IPO, the Cyberspace Administration of China said it’s starting a cybersecurity review of the company to prevent data security risks, safeguard national security and protect the public interest. Two days after that it said Didi had committed serious violations in the collection and usage of personal information and ordered the app pulled. There are no details on what precisely the investigation centers on, when or where the alleged violations occurred or whether there will be more penalties to come.

3. Are there any hints?

The Global Times, a Communist Party-backed newspaper, wrote in an editorial that Didi undoubtedly has the most detailed travel information on individuals among large internet firms and appears to have the ability to conduct “big data analysis” of individual behaviors and habits. To protect personal data as well as national security, China must be even stricter in its oversight of Didi’s data security, given that it’s listed in the U.S. and its two largest shareholders are foreign companies, it added.

4. Is it just Didi?

No. The Chinese internet regulator has widened its probe to two more U.S.-listed companies, targeting Full Truck Alliance Co. and Kanzhun Ltd. soon after launching the review into Didi.

5. Was this out of the blue?

No. In May, China’s antitrust regulator ordered Didi and nine other leaders in on-demand transport to overhaul practices from arbitrary price hikes to unfair treatment of drivers. More broadly, Beijing is in the process of a sweeping crackdown on the nation’s Big Tech firms designed to curb their growing influence.

In November 2020 the authorities derailed the planned IPO of fintech giant Ant Group Co. and in April hit Alibaba with a record $2.8 billion fine after an antitrust probe found it had abused its market dominance. Didi, however, said on Monday it was unaware of China’s decision to halt registrations and remove the app from app stores before its listing.

6. Why does Didi matter?

You can’t really overstate just how dominant Didi is in ride hailing in China, accounting for 88% of total trips in the fourth quarter of 2020. When Didi bought Uber’s Chinese operations in 2016, Uber took a stake in the company that currently stands at 12%. Didi’s U.S. IPO was shepherded by a who’s who of Wall Street banks. Its largest shareholder is Japan’s SoftBank Group Corp. with more than 20%, and others include Chinese social networking colossus Tencent Holdings Ltd. However, due to Didi’s ownership structure, Chief Executive Officer Cheng Wei and President Jean Liu control more than 50% of the voting power.

7. How’s the company doing?

While Didi had a net loss of $1.6 billion on revenue of $21.6 billion last year, according to its filings with the U.S. Securities and Exchange Commission, its diversity cushioned it against the worst of the pandemic downturn. The company reported net income of $837 million in the first quarter of 2021. With growth in its core market beginning to slow, it has expanded rapidly into fields from car repairs to grocery delivery and has pumped hundreds of millions into researching autonomous driving technology. It’s also said to be planning to expand services into Western Europe.

8. What happens now?

On Didi specifically the critical question is what the review regarding user data finds. But analysts are already looking at the likely wider impact. Key issues are whether the action is likely to discourage other Chinese tech firms from embarking on an overseas listing, and whether the action marks a new direction for the regulatory crackdown. Didi itself said in a statement in would fully cooperate with the review. It warned though that the removal of the app for new users may have an adverse affect on revenue.

Based on the laws cited by the regulators, Didi is probably being investigated over its purchase of certain products and services from other suppliers, which may threaten national data security, according to analysts from Shenzhen-based Ping An Securities. “Didi will inevitably have to check its core network equipment, high-performance computers and servers, large-capacity storage equipment, large databases and application software, network security equipment, and cloud computing services, sort them out and make necessary rectifications to meet regulatory requirements,” the analysts wrote in a note on Monday.

Yang Sirui, chief analyst for the computer industry at Bank of China International, said that Didi went for its public listing in the US hastily, probably due to investor pressure. “Listing Didi as soon as possible meets the demands of the capital,” he said. “But if [Didi] had arbitrarily collected user privacy data, abused it, or monetized it illicitly, it will inevitably be punished by Chinese regulators.” Since its founding in 2012, Didi has undergone a number of private fundraising rounds, raising tens of billions of dollars from venture capital or major tech firms. According to its IPO prospectus, SoftBank Vision Fund is currently the largest shareholder of Didi, with a 21.5% stake. Uber (UBER) and Tencent (TCEHY) followed with a 12.8% and 6.8% stake respectively.

The Reference Shelf

— With assistance by Coco Liu, Molly Schuetz, Abhishek Vishnoi, and Colum Murphy

By:

Source: Why China is Citing Security Risks in Crack Down on $UBER rival $DIDI – Bloomberg

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Critics:

Didi is a Chinese vehicle for hire company headquartered in Beijing with over 550 million users and tens of millions of drivers. The company provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing, and bike sharing; on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric vehicle charging, and co-development of vehicles with automakers.

In March 2017, the Wall Street Journal reported that SoftBank Group Corporation approached DiDi with an offer to invest $6 billion in the company to fund the ride-hailing firm’s expansion in self-driving car technologies, with a significant portion of the money to come from SoftBank’s then-planned $100 billion Vision Fund.

DiDi claims that it provides over tens of millions of flexible job opportunities for people, including a considerable number of women, laid-off workers and veteran soldiers. Based on a survey released by DiDi in March 2019, women rideshare drivers in Brazil, China and Mexico account for 16.7%, 7.4% and 5.6% of total rideshare drivers on its platforms, respectively. DiDi supports more than 4,000 innovative SMEs, which provides more than 20,000 jobs additionally.

40% of DiDi’s employees are women. In 2017, DiDi launched a female career development plan and established the “DiDi Women’s Network”. It is reportedly the first female-oriented career development plan in a major Chinese Internet company.

References

Uber, Facebook, Instagram and Other Apps That are Slowly Killing Your Smartphone

Uber, Facebook, Instagram and other apps that are slowly killing your smartphone

What is the first thing you do when you launch a new smartphone ? Download all the apps you need, of course. After a few hours (or days) downloading applications, your entry menu ends up covered in colorful squares, giving you the satisfaction that you have everything: apps for social networks, transport, dating, online commerce, for video conferencing and fitness, for name the most popular.

However, recent research found that many of them are slowly killing your smartphone. The pCloud company, which offers cloud storage services, conducted a study to discover which applications are most demanding for our mobile devices.

The research looked at 100 of the most popular apps based on three criteria: the features each app uses (such as location or camera), the battery consumption, and whether dark mode is available. Thus they found which of these not only drain the battery of our phone, they also occupy the most memory and make it slower.

These are the apps classified as ‘smartphone killers’

According to the study, the Fitbit and Verizon apps turned out to be the biggest ‘smartphone killers. Both allow 14 of the 16 available functions to run in the background, including the four most demanding: camera, location, microphone and WiFi connection. This earned them the highest score in the study: 92.31%.

Of the 20 most demanding applications for mobile battery, 6 are social networks . Facebook , Instagram , Snapchat , Youtube , WhatsApp, and LinkedIn allow 11 functions to run in the background, such as photos, WiFi, location, and microphone. Of these, only IG allows dark mode to save up to 30% battery, just like Twitter , which did not enter the top 20.

Dating apps Tinder , Bumble and Grinder account for 15% of the top 20 most demanding apps. On average, they allow 11 functions to run in the background and none have a dark mode.

In terms of the amount of memory they require, travel and transportation apps dominated the list. The United Airlines app is the one that consumes the most storage on the phone, as it requires 437.8 MB of space. Lyft follows with 325.1 MB and then Uber , which occupies 299.6 MB.

Among the video conferencing apps, Microsoft Teams is the one that consumes the most memory, occupying 232.2 MB of space. In comparison, Zoom only requires 82.1 MB and Skype 111.2 MB.

The 20 apps that wear out your phone the most

The top 20 of the most demanding applications, based on the functions they execute and all the activity they generate, was as follows:

  1. Fitbit – 92%
  2. Verizon – 92%
  3. Uber – 87%
  4. Skype – 87%
  5. Facebook – 82%
  6. AirB & B – 82%
  7. BIGO LIVE – 82%
  8. Instagram – 79%
  9. Tinder – 77%
  10. Bumble – 77%
  11. Snapchat – 77%
  12. WhatsApp – 77%
  13. Zoom – 77%
  14. YouTube – 77%
  15. Booking – 77%
  16. Amazon – 77%
  17. Telegram – 77%
  18. Grinder – 72%
  19. Likke – 72%
  20. LinkedIn – 72%

Among the 50 applications that kill the battery and memory of the phone are also Twitter (no. 25), Shazam (30), Shein (31), Spotify (32), Pinterest (37), Amazon Prime (38), Netflix (40), TikTok (41), Duolingo (44) and Uber Eats (50).

If you are already considering doing a general cleaning of apps, you can consult the complete list here .

By: Entrepreneur en Español / Entrepreneur Staff

Source: Uber, Facebook, Instagram and other apps that are slowly killing your smartphone

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Our smartphones have become such an integral part of our lives that we can’t imagine life without it. Just like any object, phones are also subjected to wear and tear as well as our mishandling. Here are some things that you should stop if you want to prolong your phone’s life.

Draining your phone’s battery
Most smartphones have lithium-ion batteries with limited life cycles. If you’re constantly draining your phone to 1% before charging, it reduces the battery’s life cycles.

Exposing your phone to drastic temperatures
We understand that your phone can’t be left in your bag or pocket all the time. However, don’t leave it out in temperatures below 0 and above 35 degrees celsius as permanent damages may be done to the handset.

Maxing out your storage
Your phone needs extra storage space in order for the operating system to continue functioning. Maxing out your storage causes your phone to lag or crash. Avoid this by backing up your phone’s content regularly to either your computer or cloud storage.

Leaving your phone in the shower
Doesn’t a nice hot shower feels good at the end of the day? Not so much for your phone. Steam can seep into your phone and condense into water, which may short circuit the hardware.

Constantly dropping your phone
No matter how good the protective casing your phone is in, dropping it constantly will affect its internal hardware. Be thankful if it’s just a cracked screen; more often than not, the damages are more serious than that.

Too many background apps
Is it really necessary to keep Candy Crush, Facebook, Instagram, Calendar and Whatsapp all opened at the same time? This causes your phone to dedicate extra RAM to these apps and drains your battery.

Not turning your phone off
Like humans, your phone also needs a break once in a while. Leaving it on 24/7 can shorten the lifespan of the battery and decrease its performance.

Overnight charging
Most smartphones are clever enough to cut off the power supply to the battery once it’s fully charged. However, lithium-ion batteries don’t fare well against high heats. When you leave your phone plugged in overnight, especially with the casing on, overheating can occur and decrease the battery life.

Relying on cellular data
If you’re only using 3G/4G for internet connectivity, think again. Connecting to Wi-Fi consumes less energy than data network which helps make your battery lasts longer.

Cleaning your phone with household products
There’s a reason why cleaning agents exist specifically for phones. The chemicals in your household bleach or detergent can damage the protective layer often found on your phone’s screen.

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