DoorDash began trading publicly yesterday, with shares increasing by over 85% on the first day of trading. The food delivery platform has seen rapidly growing demand amid the ongoing coronavirus outbreak. The public debut is one of several high-profile IPOs to be announced or launched this year, including those of Airbnb (which is expected to start trading today), Roblox, and Affirm.
Extra: As of market close yesterday, DoorDash had a market capitalization (or equity valuation) of ~$72B. The company’s most recent private valuation (after a capital raise in June) was $16B.
The New Paper
This story is from the December 10, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.
