DoorDash, an On-demand Food delivery app from US is going public - Post IPO valuation $38.7 billion.

DoorDash, an On-demand Food delivery app from US is going public - Post IPO valuation $38.7 billion.

SAN FRANCISCO, Dec. 8, 2020  DoorDash, Inc. ("DoorDash") today announced the pricing of its initial public offering of its Class A common stock at a price of $102.00 per share. DoorDash is offering 33,000,000 shares of its Class A common stock. The shares are expected to begin trading on the New York Stock Exchange on December 9, 2020 under the symbol "DASH" and the offering is expected to close on December 11, 2020, subject to customary closing conditions.

Public investors are looking forward to this IPO and it seem to have received a warm welcome among general public.

The offering on Tuesday values the company at $32.4 billion, based on common stock outstanding and $38.7 billion on a fully-diluted basis according to a CNBC story

Doordash's Q3 revenue figures stands at $879 million. With this IPO, through which they are likely to double their valuation, Doordash is well places to take on competition from Uber eats, Grubhub and others.

About DoorDash

DoorDash is a technology company that connects customers with their favorite local and national restaurants in more than 4,000 cities and all 50 states across the United States, Canada, and Australia. Founded in 2013, DoorDash empowers restaurants to grow their businesses by offering on-demand delivery, data-driven insights, and better in-store efficiency, providing delightful experiences from door to door. By building the last-mile delivery infrastructure for local cities, DoorDash is bringing communities closer, one doorstep at a time.

Source : https://www.prnewswire.com/news-releases/doordash-announces-pricing-of-initial-public-offering-301188949.html

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