DoorDash files for IPO, shows surging revenue during pandemic
Emily Bary and Levi Sumagaysay, 13 November 2020
DoorDash Inc., the leading food-delivery app in the nation, filed paperwork Friday morning for an initial public offering, giving investors a first glimpse into its fast revenue growth amid the pandemic — and its continued losses.
The COVID-19 pandemic has been a boon to delivery businesses as people have had to stay home and in many cases outsource their shopping or food pickup. The company’s filing with the Securities and Exchange Commission shows just how big of a boost it has received. DoorDash’s revenue rose to $1.92 billion through the first nine months of the year, a 227% increase from the year-ago period, according to the company’s filing.
The San Francisco-based company, which said in a prospectus that its mission is “to grow and empower local economies,” intends to trade on the New York Stock Exchange under the ticker “DASH.”
