Doordash Files Paperwork To Go Public
ON-DEMAND FOOD DELIVERY GIANT DOORDASH FILES IPO PAPERWORK FOR NYSE, STOCK SYMBOL TO BE "DASH"
(CNN)- If you are spending a lot of money on food delivery, you will soon have the chance to invest in it as well.
Doordash is preparing to go public on the New York Stock Exchange.
The on-demand food delivery company plans to trade under the four letter stock symbol “Dash.”
In its initial public offering paperwork, Doordash disclosed that it grossed $1.9 billion in the first nine months of this year.
It also lost $149 million.
But that’s modest compared to the $5.8 billion competitor Uber eats lost in the same time period.
In May, DoorDash passed GrubHub to become the number one on-demand food delivery service in the U.S.
With the pandemic, DoorDash is selling investors on its business model, which projects growing demand and profitability going forward.