Article Hero

DoorDash IPO raises IPO at over $100 per share

1607519641.jpg
ميغيل رودريغيز
ميغيل رودريغيز
09 ديسمبر 2020
The company seeks a valuation of about $39 billion

The on-demand prepared food delivery service - DoorDash – will begin trading today, after rising the previously expected price-range of $90 - $95 a share.

The San Francisco-based company founded by former Stanford students Tony Xu, Stanley Tang, Andy Fang, and Evan Moore announced that its initial public offering would price at $102 per share. The change gives the company a valuation of around $39 billion.

Currently, DoorDash owns 50% of the US prepared-food delivery market with more than 18 million customers and 1 million people who deliver food, and 390,000 merchants on its platform. Uber Eats is in second place with 33%.

Since its 2013 launch, DoorDash has raised a lot of attention on itself. Over the years, it received funding from SoftBank’s Vision Fund, Kleiner Perkins, and Sequoia Capital. Now, its listing will be led by 12 underwriters, the most important being JPMorgan, Goldman Sachs, and Barclays.

DoorDash will trade on the New York Stock Exchange under the ticker symbol DASH later on today, offering 33 million shares of Class A common stock. Its IPO follows that of Snowflake and Palantir. Coming up next will be Airbnb.

Sources: marketwatch.com, foxbusiness.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

ميغيل رودريغيز
ميغيل رودريغيز
financial_writer

بدأ ميغيل مسيرته المهنية الطويلة في مؤسسات مالية مرموقة مثل Banco Santander و Banco Central-Hispano.وهو مؤلف لكتب تداول العملات.