Answer · confidence: partial
How much do online marketplaces keep from each sale, and has it changed?
Research question: What do platform annual reports and SEC or other regulatory filings disclose about commission or take-rate as a share of gross bookings for online marketplaces, and how did those rates change over time?
DoorDash's SEC-filed releases disclose a take-rate-style metric, Net Revenue Margin, measured against Marketplace GOV. It was 13.1% in Q1 2025, 13.5% in Q2 2025, 13.8% in Q3 2025, 13.3% in Q4 2025 and 12.8% in Q1 2026, and 13.5% in Q2 2026, which was flat year over year 68. Earlier, DoorDash reported a take rate of 11.8% in Q2 2021, up from 10.9% in Q1 2021, which it attributed mainly to lapping early-pandemic merchant relief investments and lower Dasher costs 151718. For Airbnb, the records show an implied take rate of revenue over gross bookings, with Q3 2025 revenue of $4.1 billion against $22.9 billion of GBV 11. Airbnb expected Q4 2025 to be relatively flat year over year 4, and its Q4 2025 revenue growth of 12% against 16% GBV growth implies the take rate fell 7, though the excerpt does not give the actual Q4 figure 10. The Apple items cover app-store commissions rather than marketplace take rates, with a 15% fee for link-out purchases and 15% on auto-renewing subscriptions after year one 12. The newest dated fact is the Apple item from 18 August 2026, about two months before today 1. Coverage is partial: DoorDash has a multi-year series, but Airbnb's disclosed levels are incomplete and no regulatory-filing series covers other marketplaces here.
Checked 2026-10-18. Only documented and supported facts are used.
Dig deeper on this questionSources
[1] supported
Apps that link to a website purchase option will pay a 15% fee, or 10% for developers in Apple's programs.
"Apps that link to a website purchase option will pay 15%. Developers in Apple's programs will pay 10%."Apple Overhauls EU App Store Fees to Settle Digital Markets Act Dispute - MacRumors
[2] supported
The fee for auto-renewing subscriptions will be 15% after their first year for App Store apps using in-app purchase.
"It will also be 15% for auto-renewing subscriptions after their first year."Apple Overhauls EU App Store Fees to Settle Digital Markets Act Dispute - MacRumors
[3] documented
Airbnb's Q4 2025 shareholder letter says it expects its implied take rate in Q1 2026 to be up slightly year-over-year.
"We expect our implied take rate in Q1 2026 to be up slightly year-over-year."Q4 2025 Shareholder Letter
[4] documented
Airbnb expects its implied take rate (revenue as a share of gross bookings) in Q4 2025 to be relatively flat year-over-year.
"We anticipate our implied take rate in Q4 2025 to be relatively flat year-over year."Airbnb 2025 Q3 Shareholder Letter (PDF)
[5] documented
DoorDash defines its Net Revenue Margin as revenue expressed as a percentage of Marketplace GOV, which is its disclosed take-rate-style measure against gross bookings.
"We define Net Revenue Margin as revenue expressed as a percentage of Marketplace GOV."DoorDash, Inc. - Form 8-K - FY2026
[6] supported
DoorDash's SEC-filed earnings release reports Net Revenue Margin, which is revenue as a share of Marketplace GOV and serves as its take-rate-style metric, at 13.1% in Q1 2025, rising to 13.5% in Q2 2025 and 13.8% in Q3 2025, then falling to 13.3% in Q4 2025 and 12.8% in Q1 2026.
"Net Revenue Margin 13.1 % 13.5 % 13.8 % 13.3 % 12.8 % "DoorDash, Inc. - Form 8-K - FY2026
[7] supported
In Q4 2025, Airbnb's revenue grew more slowly (12%) than its Gross Booking Value (16%), which implies a lower revenue-to-GBV ratio, meaning the take rate fell year-over-year.
"Revenue grew 12%, exceeding the high end of our guidance range, while Gross Booking Value grew 16% year-over-year—our highest-growth quarter in more than two years."Q4 2025 Shareholder Letter
[8] supported
DoorDash's Net Revenue Margin was 13.5% in Q2 2026, versus 13.5% in Q2 2025, 13.8% in Q3 2025, 13.3% in Q4 2025 and 12.8% in Q1 2026, so it was flat year over year but dipped in Q1 2026 before recovering.
"Net Revenue Margin 13.5 % 13.8 % 13.3 % 12.8 % 13.5 %"DoorDash, Inc. - Form 8-K - FY2026
[9] supported
DoorDash's reported GAAP gross profit as a percentage of Marketplace GOV moved from 6.4% in Q1 2025 to a peak of 6.8% in Q3 2025 and back down to 6.2% in Q1 2026.
"GAAP gross profit as a % of Marketplace GOV 6.4 % 6.6 % 6.8 % 6.4 % 6.2 % "DoorDash, Inc. - Form 8-K - FY2026
[10] supported
Airbnb's letter defines its implied take rate in a 'Monetization and Take Rate' section, but the excerpt cuts off before giving the Q4 2025 figure.
"During Q4 2025, the implied take rate (defined"Q4 2025 Shareholder Letter
[11] supported
Airbnb reported Q3 2025 gross booking value of $22.9 billion, up 14% year-over-year (12% excluding FX), against revenue of $4.1 billion, which is the basis for its take-rate calculation.
"In Q3 2025, GBV was $22.9 billion, representing a year-over-year increase of 14% (or 12% ex-FX)."Airbnb 2025 Q3 Shareholder Letter (PDF)
[12] documented
DoorDash's GAAP cost of revenue, excluding depreciation and amortization, fell to 6.4% of Marketplace GOV in Q2 2026 from 6.7% in Q2 2025, but rose from 6.3% in Q1 2026.
"As a percentage of Marketplace GOV, GAAP cost of revenue, exclusive of depreciation and amortization, was 6.4% in Q2 2026, down from 6.7% in Q2 2025 and up from 6.3% in Q1 2026."DoorDash, Inc. - Form 8-K - FY2026
[13] supported
The filing reports Marketplace GOV of $31.6 billion in Q1 2026, up 37% year over year, which is the denominator against which the net revenue margin take rate is measured.
"Marketplace GOV increased 37% Y/Y to $31.6 billion."DoorDash, Inc. - Form 8-K - FY2026
[14] documented
DoorDash says its DashPass membership lowers consumer fees, which increases order frequency and retention but yields a lower gross margin percentage than non-DashPass orders.
"Because DashPass lowers consumer fees, it typically drives an increase in average consumer order frequency 4 and retention, 5 but it does so at a lower gross margin percentage compared to non-DashPass orders."DoorDash, Inc. - Form 8-K - FY2026
[15] documented
DoorDash reported a take rate of 11.8% in Q2 2021, up from 10.9% in Q1 2021 and 11.0% in Q2 2020.
"Take Rate was 11.8% in Q2, up from 10.9% in Q1 2021 and 11.0% in Q2 2020."DoorDash, Inc. - Form 8-K - FY2021
[16] supported
DoorDash defines Marketplace GOV as the total dollar value of orders on its marketplaces, including taxes, tips and consumer fees such as DashPass, Wolt+ and Deliveroo Plus membership fees, which is the denominator for its take-rate metrics.
"We define Marketplace GOV as the total dollar value of orders completed on our marketplaces, including taxes, tips, and any applicable consumer fees, including membership fees related to DashPass, Wolt+, and Deliveroo Plus."DoorDash, Inc. - Form 8-K - FY2026
[17] documented
DoorDash attributed the year-over-year rise in its take rate mainly to lapping merchant relief investments it made early in the COVID-19 pandemic.
"The Y/Y increase to Take Rate was driven primarily by lapping the impact of merchant relief investments made in the early stages of the COVID pandemic."DoorDash, Inc. - Form 8-K - FY2021
[18] documented
DoorDash said lower Dasher costs as a percentage of GOV and improved order quality drove the quarter-over-quarter increase in its take rate in Q2 2021.
"Improvements in order quality and lower Dasher costs as a percentage of GOV contributed to the Q/Q increase in Take Rate in Q2."DoorDash, Inc. - Form 8-K - FY2021
[19] documented
DoorDash's Adjusted Gross Profit as a share of Marketplace GOV rose to 6.7% in Q2 2021, from 5.3% in Q1 2021 and 5.8% in Q2 2020.
"As a percentage of Marketplace GOV, our Adjusted Gross Profit increased to 6.7% in Q2 2021 from 5.3% in Q1 2021 and 5.8% in Q2 2020."DoorDash, Inc. - Form 8-K - FY2021