DoorDash, Inc. (DASH) to Raise $2.6 Billion in IPO

DoorDash, Inc. (DASH) plans to raise $2.6 billion in an IPO on Wednesday, December 9th, IPO Scoop reports. The company will be issuing 33,000,000 shares at a price of $75.00-$85.00 per share.

In the last twelve months, DoorDash, Inc. generated $2.2 billion in revenue and had a net loss of $283 million. The company has a market cap of $25.4 billion.

Goldman Sachs and J.P. Morgan acted as the underwriters for the IPO and Barclays, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, Mizuho, JMP Securities, Needham & Co., Oppenheimer & Co., Piper Sandler and William Blair were co-managers.

DoorDash, Inc. provided the following description of their company for its IPO: “Our mission is to grow and empower local economies. Our journey began on January 12, 2013, when our founders launched a website displaying menus from local restaurants in Palo Alto, California. Within a few hours, the first DoorDash consumer ordered prawn pad thai and spring rolls from a nearby Thai eatery, and shortly afterwards, dinner was delivered directly to his door. Today, we connect over 390,000 merchants,3 over 18 million consumers,4 and over 1 million Dashers5 in the United States, Canada, and Australia through our local logistics platform. Our platform enables local brick-and-mortar businesses to thrive in today’s convenience economy by addressing consumers’ expectations of ease and immediacy. With over 900 million orders completed through our platform since our founding, merchants have made additional sales, consumers have connected with the best of their neighborhoods, and Dashers have found flexible economic opportunities. (Footnote guide: 3. Based on the number of individual stores that completed an order through our platform in the past month, measured as of Sept. 30, 2020; 4. Based on the number of individual consumer accounts that have completed an order our our Marketplace in the past month, measured as of Sept. 30, 2020, and 5. Based on the number of accounts held by independent contractors that have delivered an order through our platform, or Dashers, in the past month, measured as of Sept. 30, 2020.) (Note: DoorDash, Inc., filed its public S-1 document, or prospectus, on Nov. 13, 2020. The company filed confidentially to go public on Feb. 13, 2020, according to SEC records.)   “.

DoorDash, Inc. was founded in 2013 and has 3279 employees. The company is located at DoorDash, Inc. 303 2nd Street, South Tower, 8th Floor San Francisco, California 94107 and can be reached via phone at (650) 487-3970 or on the web at http://www.doordash.com/.

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