• CNBC reports that "Walmart’s former e-commerce chief Marc Lore said he’s ready to make big bets on digital retail as he teams up with baseball star Alex Rodriguez on a new venture capital firm."
Lore told CNBC that "they will write bigger checks and take bigger stakes in early-stage companies … The new company, called Vision Capital People or VCP, will start with $50 million of Lore and Rodriguez’s own money … He said they will pay attention to 'mega trends in retail,' such as social commerce and conversational commerce as they pick companies."
• The Wall Street Journal reports that DoorDash's revenue "tripled in the first quarter, showing sustained demand for food-delivery services even as coronavirus vaccinations picked up and the nation moved toward reopening." The company said that its Q1 revenue was $1.08 billion, up from $362 million in the same quarter a year earlier.
"DoorDash slightly narrowed its loss to $110 million from a loss of $129 million in the same quarter last year," the Journal writes.