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DoorDash is an American food delivery service that operates in 850 cities in North America by December 2020. The number of restaurants connected to the platform is 390 thousand, and the number of its users is 18 million.
History
2021: DoorDash bought Wolt Enterprises for 7 billion euros
On November 9, 2021, the sale of Wolt Enterprises to the American food delivery service was announced for DoorDash 7 billion euros. The buyer will pay for the entire transaction, which is planned to be closed in the first half of 2022, with its shares. More details here.
2020: Entering the NYSE Exchange
On December 9, 2020, DoorDash officially entered the New York Stock Exchange (NYSE). The company set the IPO price at $102 per share (this is higher than the previously stated range of $90-95), which made it possible to raise $3.4 billion. On the first day of trading, food delivery service securities rose 86% to $189, and the company's market capitalization reached $71.8 billion, while in June 2020 the startup was estimated by investors at $16 billion.
Major DoorDash investors who can benefit from this IPO include Sequoia Capital, Vision Fund Softbank and a fund DST Global founded by a Russian-Israeli billionaire, Yuri Milner he notes. Bloomberg
Public placement of DoorDash is provided bankigoldman Sachs, by JPMorgan Chase, Barclays, Deutsche Bank, RBC Capital Markets and UBS. The company's shares are sold under the DASH ticker.
According to the news agency, this listing made the founders DoorDash billionaires. So, Tony Xu, Andy Feng and Stanley Teng own stakes in the amount of $2.4 billion to $2.7 billion, according to the Bloomberg billionaire index. Xu's papers, who are the company's CEO, give him control of the company - he has 69% of the vote.
IPO DoorDash became one of the largest in the United States in 2020. According to Dealogic, since the beginning of the year, companies have raised a total of more than $140 billion on US exchanges, which is a record volume. DoorDash took advantage of the surge in demand for food delivery provoked by the coronavirus pandemic and the investor's optimism about IPOs, Bloomberg notes.[1]
Notes
Stock price dynamics
| Ticker company on the exchange: | NYSE:DASH |
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