In the last 12 months, Dingdong (Cayman) Limited generated $1.7 billion in revenue and had a net loss of $482.9 million.
Morgan Stanley, BofA Securities, Credit Suisse and HSBC served as the underwriters for the IPO and Mission Capital, FUTU and Tiger Brokers were co-managers.
Dingdong (Cayman) Limited provided the following description of their company for its IPO: “We are a leading and the fastest-growing on-demand e-commerce company in China, according to China Insights Consultancy, or CIC. We directly provide users and households with fresh produce, meat and seafood and other daily necessities through a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. With fresh groceries as our core product categories, we have successfully expanded to providing other daily necessities to grow into a leading one-stop online shopping destination in China for consumers to make purchases for their daily lives. At the same time, we are working to modernize China’s traditional agricultural supply chain through standardization and digitalization, empowering upstream farms and suppliers to make their production more efficient and tailored to actual demand. Our total revenues has grown from RMB3,880.1 million in 2019 to RMB11,335.8 million (US$1,730.2 million) in 2020, driven by the robust growth in our GMV. Our market share in the on-demand e-commerce industry as measured by GMV was 10.1% in 2020, according to CIC, and our total GMV has grown from RMB741.7 million in 2018 to RMB13,032.2 million (US$1,989.1 million) in 2020, representing a CAGR of 319.2%. This growth rate ranked first among the top five on-demand e-commerce platforms in China and significantly outpaced the overall market size growth rate of 114.6% during the same period. In addition, in 2020, we ranked first by GMV among our competitors in the Yangtze River Delta megalopolis, which contributed approximately 24% of China’s total GDP in 2020, while also successfully penetrating into other regions across China. Note: Revenue and net loss figures are in U.S. dollars for the year ended Dec. 31, 2020. “.
Dingdong (Cayman) Limited was founded in 2017 and has 3098 employees. The company is located at Building 6, 500 Shengxia Road, Shanghai, 200125 People’s Republic of China and can be reached via phone at +86 21-6858-5011 or on the web at http://www.100.me/.
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