Food delivery giant DoorDash files paperwork to go public

DoorDash, the on-demand food delivery company, is preparing to go public at a time when its services are in high demand due to the ongoing pandemic. The 7-year-old company made public its initial public offering paperwork on Friday, revealing that it has generated $1.9 billion in revenue in the first nine months of this year, ending in September. During that time, it incurred losses of $149 million. During the same period in 2019 it lost $533 million. However, during the second quarter of this year, amid the pandemic, DoorDash generated a profit of $23 million. DoorDash said it will list on the New York Stock Exchange under the symbol DASH. Founded in 2013 by a group of Stanford students as a way to help local businesses with their delivery needs, DoorDash has gone on to raise $2.5 billion to date and was most recently valued at $16 billion.

Source: https://edition.cnn.com/2020/11/13/tech/doordash-ipo-paperwork/index.html

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