DoorDash targets valuation of nearly $30 billion in IPO
The food delivery company is seeking to raise up to $2.8 billion when it goes public.
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DoorDash on Monday revealed more details about its upcoming initial public offering in a new filing with the US Securities and Exchange Commission. The food delivery service is seeking to raise up to $2.8 billion in its IPO, which could give it a valuation of nearly $30 billion. DoorDash plans to list 33 million shares at a price between $75 and $85 apiece.
The past few months have been booming for DoorDash, as the coronavirus pandemic has caused people around the world to shelter in place and stay indoors. The company has gained millions of customers who avoid going to restaurants and instead order their meals through the platform.
In its S-1 filing with the SEC earlier in November, the company reported $1.9 billion in revenue for the nine months that ended Sept. 30, up from $587 million during the same period last year.
The company plans to trade on the New York Stock Exchange with the symbol DASH. Trading is expected to begin in mid-December.
See also: DoorDash vs. Uber Eats: Which food delivery app is best?
