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America’s biggest food delivery app, DoorDash seeks for IPO approval

DoorDash has just filed its IPO prospectus with the Securities and Exchange Commission.



DoorDash, America's biggest food delivery app, DoorDash seeks for IPO approval

America’s leading food delivery app, DoorDash, has just filed its IPO prospectus with the Securities and Exchange Commission. The Startup will be listed on the New York Stock Exchange under the symbol, “DASH”.

DoorDash joins other leading competitors Uber and GrubHub on the Stock Exchange.

READ: Uber expands food delivery business in a $2.65 billion acquisition 

DoorDash leads the pack in the market share of the food delivery business in America with 49% of meal delivery sales in September compared to Uber’s 22% and GrubHub’s 20%, according to analytics firm Second Measure.

DoorDash has raised about $700 million through many financing rounds from leading investors including Y Combinator, SV Angel, Khosla Ventures, Sequoia Capital, SoftBank, Charles River Ventures, GIC, and Kleiner Perkins.  As of June 2020, DoorDash’s valuation stood at about  $16 billion.

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READ: After its latest acquisitions, Indorama is set to invest $5.5 billion

In the era of COVID-19 were online services have reached a record high, DoorDash further disclosed it had stored a significant amount of gloves and bottles of hand sanitizers for its delivery drivers, and such products were  offered to them with no charge

What you must know: DoorDash Inc. is a U.S -demand prepared food delivery service, invented by Tony Xu, Stanley Tang, Andy Fang, and Evan Moore.

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READ: Nigerian energy startup raises $9 million in Series A funding

  • DoorDash uses logistics services via its internet platform in offering food delivery from restaurants on-demand.
  • DoorDash launched in Palo Alto and, as of May 2019, had expanded to more than 4,000 cities and offers a selection of 340,000 stores across the U.S., Canada, and Australia.


Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

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Fidelity Bank’s Regional Head purchases additional 1 million shares

Fidelity Bank Nigeria Plc has announced the purchase of additional 1 million units of the Bank’s shares by one of its managers.



Fidelity Bank non-Executive Director purchases 3.1 million shares

Fidelity Bank Nigeria Plc has announced that one of its General Manager/Regional Head, Mr. Kenneth Opara, has purchased additional 1 million units of the Bank’s shares worth approximately N2.8 million.

In a disclosure, signed by the Bank’s Secretary, Ezinwa Unuigboje, the transaction occurred in two tranches with an average share price of N2.78 per unit.

What you should know

Further checks by Nairametrics revealed that the shares purchased in two tranches were transacted at different prices.

  • In the first tranche, 6,000 units were purchased at the price of N2.78 per unit, totalling N16,680.
  • In the second tranche, 994,000 units were bought at N2.79, amounting to N2,773,260
  • The transaction occurred on the 25th of November, 2020 and was reported inline with the rules of the Nigerian Stock Exchange.
  • Nairametrics earlier reported that another Fidelity Bank Non-Executive Director had purchased additional 1 million units of the Bank’s share.

What this means

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The recent purchase by top insiders of the bank could portray an optimistic outlook on the bank’s profit in the near future.

Also, the surge might also be attributed to a recent disclosure by the bank that it will close the window for internal purchase of its shares by December 1, 2020, until 24 hours after the release of its audited financials.

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Spotlight Stories

MTN, UBA, UNILEVER tick up, investors gain N43 billion

With 18 gainers and 16 losers, most sectoral indices rode on the back of gains by mid and large-cap stocks to close positive.



investors, Bulls gain momentum, as stimulus package lifts global financial markets, Bulls boost global financial market, gold hits 7 years high, Dangote, Tier-1 banks lead the bulls to close Nigerian stock market green

Nigerian Stocks continued its bullish run at the last trading session of the week. The Nigerian All-Share index rose by 0.24%. Consequently, the year-to-date return advanced to 29.94%.

The All Share Index (ASI), advanced from its opening index of 34,803.00 points to close at 34,885.51 points. The aggregate market value of all quoted equities also increased from its opening value of N18.184 trillion to close the week at N18.227 trillion.

  • A total volume of 190.2 billion units of shares, valued at N3.33billion exchanged hands in 3,976 deals. TRANSCORP was the most traded shares by volume with 37.4 million units, while MTNN topped by value at N1.79billion.
  • The NSE Consumer Goods and Oil & Gas indexes leaped by 0.14 and 0.06% respectively. On the contrary, the NSE Insurance and Banking Indexes depreciated by 1.93 and 0.23% respectively while the Industrial Goods Index closed flat.
  •  With 18 gainers and 16 losers, most sectoral indices rode on the back of gains by mid and large-cap stocks to close positive.  NAHCO (+9.09%) was the top gainer today, while PORTPAINT (+9.09%) led the laggards today.

Top gainers

  1. NAHCO up 9.09% to close at N2.4
  2. FIDSON up 7.25% to close at N5.47
  3. UNILEVER up 5.77% to close at N13.75
  4. UBA up 1.82% to close at N8.4
  5. MTNN up 1.31% to close at N155

Top losers

  1. PORTPAINT down 8.42% to close at N2.61
  2. MANSARD down 6.40% to close at N2.34
  3. NEM down 3.14% to close at N2.47
  4. GUINNESS down 1.55% to close at N19
  5. GUARANTY down 1.13% to close at N35


Nigerian stocks recorded gains amid falling oil prices prevailing at the US trading session on Friday.

  • Major gains by large capitalized stocks that include MTN Nigeria, Unilever, UBA added N43 billion to the Nigerian Stock market capitalization.
  • Nairametrics envisage cautious buying amid significant price volatility currently in play at the Nigerian Stock market.

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GTBank, Mobil, Cadbury tick up, amid sell-offs in First Bank, UBA

The market breadth closed flat as NCR led 21 Gainers as against 21 Losers topped by AFRIPRUD at the end of today’s session.



Closed Period

Nigerian Stocks ended Thursday’s trading session on a slightly bullish note. The All Share Index gained +0.10% to close at 34,803 points, as against the 1.25% gain seen on Wednesday. Its Year-to-Date (YTD) returns currently stands at +29.66%.

Nigerian Stock Exchange trading turnover ended on a bearish note, taking to account that volume dipped by 40.78% as against the +19.02% gain recorded in the previous session.

  • ZENITHBANK, TRANSCORP, and ACCESS were the most active to boost market turnover.
  • The sectorial performance also improved slightly as the Oil & Gas, Insurance, Consumer Goods and banking Indexes advanced by +2.77%, +0.97%, +0.61%, and +0.02 respectively, while the industrial index fell by -0.03%.
  • Sector performance
  • NSE Oil & Gas Index: Up by +2.77%, as a result of price appreciation in MOBIL (+9.89%) and OANDO (+9.23%).
  • NSE Insurance Index: Advanced by +0.97%, on gains in WAPIC (+7.32%), CHIPLC (+6.90%), and AIICO (+5.26%).
  • NSE Consumer Goods Index: Improved by +0.61%, due to renewed buy interest in INTBREW (+9.62%), CADBURY (+9.09%) and GUINNESS (+7.22%).
  • NSE Banking Index: Flat at 0.02%, saved by GUARANTY (+2.61%).
  • NSE Industrial Index: Slipped by -0.03% due to UNIONDAC (-7.41%).

The market breadth closed flat as NCR led 21 Gainers as against 21 Losers topped by AFRIPRUD at the end of today’s session – an unimproved performance when compared with the previous outlook.

Top gainers

  1. INTBREW up 9.62% to close at N7.18
  2. MOBIL up 9.89% to close at N208.8
  3. CADBURY up 9.09% to close at N9.6
  4. GUINNESS up 7.22% to close at N19.3
  5. GUARANTY up 2.61% to close at N35.4

Top losers

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  1. AFRIPRUD down 5.76% to close at N5.89
  2. UBN down 5.17% to close at N5.5
  3. DANGSUGAR down 3.15% to close at N20
  4. UBA down 2.94% to close at N8.25
  5. FBNH down 2.68% to close at N7.25


Nigerian bourse ended the fourth trading session on a slightly positive note amid falling oil prices prevailing at the U.S trading session.

  • Top gains from GTBank, Mobil, Cadbury, and Guinness, neutralized the losses that came from First Bank, UBA, and Union Bank.
  • Nairametrics envisage cautious buying on prevailing market conditions seen in Nigeria’s key international markets, particularly Europe.

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