📦 DoorDash deliveries go Meta

…and Apple eyes ads [Disclosures](   DoorDash’s latest delivery (Alexi Rosenfeld/Getty Images)   Yesterday’s Market Moves   Dow Jones 33,912 (+0.45%) S&P 500 4,297 (+0.40%) Nasdaq 13,128 (+0.62%) Bitcoin $24,052 (-1.09%) Dow Jones 33,912 (+0.45%) S&P 500 4,297 (+0.40%) Nasdaq 13,128 (+0.62%) Bitcoin $24,052 (-1.09%) Hey Snackers, This may be the cutest invention of the summer: a wearable [mini fan]( aims to keep pets cool in Japan’s sweltering heat. We’re waiting for the human version. Stocks closed up yesterday as investors predicted a smaller September Fed rate increase. Meanwhile, oil prices fell after China reported slow economic growth. One head-turning #: 20% of China's 16- to 24-year-olds were unemployed last month (a record). Trunk DoorDash signs a delivery deal with Facebook Marketplace, as big techies go offline to lure younger customers Burrito bowls and a bedside table… ETA: 45 minutes. [DoorDash]( (aka America’s biggest food-delivery biz) is adding secondhand goods to its couriers’ loads, thanks to a new partnership with Facebook Marketplace. Refresher: [Meta's]( marketplace has 250M+ monthly users who sell new and used goods through digi-storefronts. Now: - The deal: DoorDash drivers will deliver Marketplace orders up to 15 miles away within 48 hours. But the items have to fit in drivers’ trunks (RIP, daybed-delivery dreams). - The route: The deal’s been in talks since last year, with delivery already tested in several US cities. A full rollout date is still TBD. Doorstep delivery... Facebook's struggled to attract new millennial and Gen Z users as its swipey rival TikTok becomes the social network of choice. Marketplace is one of the few Meta features that pull younger users (and grows revenue) as its ad-sale profit puppy struggles. Meanwhile, DoorDash gets to expand its delivery biz beyond perishables into personals (think: new makeup haul, vintage looks) to drive growth. The strategy’s already working: - Last quarter: DoorDash delivered a record 426M orders and 30% growth in revenue. - Last year: Rival [Uber's]( same-day package-delivery service (dubbed: Uber Connect), saw a 200% delivery jump from 2021. THE TAKEAWAY If you can’t get new users online, find ’em IRL… The pandemic changed the delivery landscape with people relying on front-door drop-offs for everything from paper towels to pet transport. With its new partnership, DoorDash secures more non-food-related orders for its drivers, and Meta reaches fresh customers — and gets a slice of the delivery market. The cherry on top: more Marketplace users = more opportunities for Meta to regain some of its lost ad revenue. What else we're Snackin' - [iAds]( Experts say [Apple]( will stick ads into more of its apps (think: Books, Maps, Podcasts). The Fruit’s ad biz generates $4B in revenue a year, but Apple’s ad VP wants to more than double that #. - [UK]( Britain became the first country to approve [Moderna’s]( “bivalent” vax, which targets both the original Covid strain and the newer omicron variant. Adults across the pond should have access to the booster this fall. - [Guzzle]( Saudi Aramco’s profit skyrocketed to $48.4B in the second quarter, a 90% increase from last year. Surging oil prices, caused partly by Russia’s invasion of Ukraine, helped pad the gas giant’s bottom line. - [Fund]( Pension-fund managers invested public workers' (think: firefighters, teachers) retirement $$ in crypto. Now those savings have been hit by the same crypto winter that's wiped out $2T in value. - [Bond]( Wall Street's apparently back in the Russian bonds biz: after further guidance from the Treasury, banks including [JPMorgan Chase]( [Bank of America Corp.]( and [Citigroup]( are reportedly trading Russian bonds again. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. Snack Fact Of the Day Physicists say there are about three hundred thousand billion billion jiffies in a second [Read more]( Tuesday - Earnings expected from Walmart and Home Depot Authors of this Snacks own: shares of Walmart, Uber, Apple, and Moderna ID: 2381849 Robinhood Snacks newsletters reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. 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