DoorDash moves ahead with IPO on NYSE
DoorDash Inc., the biggest U.S. food delivery company, is seeking to raise as much as US$2.8 billion in an initial public offering that’s part of an end-of-year U.S. listings rush.
The company said in a filing Monday that it plans to sell 33 million shares for US$75 to $85 each. The company can now move ahead with an IPO later this year.
San Francisco-based DoorDash would have a market value of about US$32 billion at the top end of that range, taking into account the outstanding shares listed in its filing as well as employee stock options and restricted stock units.
Private investors valued DoorDash at around US$16 billion in June.
DoorDash has seized on the pandemic-fueled boom in demand for meals brought to your door, as well as investor exuberance over new stock listings as it moves ahead with its IPO.