DoorDash, the leading food delivery app in the U.S., on Friday filed a $100 million IPO offering with the Securities and Exchange Commission as it prepares to list on the NYSE under ticker “DASH”, according to the SEC press release. The IPO will have 3 classes A, B, and C common stock as the company joins a list of competitors such as Uber and GrubHub on the public market.
- Goldman Sachs and JP Morgan will be the lead underwriters of the DoorDash IPO offering.
- Food delivery has gained momentum during the pandemic with GrubHub’s stock having gained more than 49% year to date.
- DoorDash has twice been included in CNBC’s Disruptor 50 list that identifies 50 innovative private firms across different sectors.
- DoorDash leads the competitors with a market share of 49% of meal deliveries as of September, compared to Uber’s 22%, and GrubHub’s 20%
- DoorDash has 18 million customers, 390,000 merchants, 1 million dashers.
- In 2019 and during the nine months ended September 30, 2020, DoorDash generated $885 million and $1.9 billion revenues respectively and a net loss of $667 million and $149 million, respectively.
DoorDash was last valued at $16 billion, and it has raised $2.5 billion so far.
