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.
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.
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.
- 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.