DoorDash looking for a valuation of nearly $30B
NEW YORK – DoorDash is looking for a valuation of nearly $30 billion when it takes itself public, reflecting how integral food delivery has become in millions of people’s lives during the pandemic. The company is planning to raise up to approximately $2.8 billion from an initial public offering of 33 million shares. It had a net loss of $667 million in 2019 and $149 million in the first nine months of 2020. The company did turn a profit of $23 million in the second quarter this year, but followed that with a $43 million loss in the third quarter. DoorDash Inc. will list on the New York Stock Exchange under the DASH ticker symbol.