DoorDash is an American food delivery company founded in 2013 which is going public this year as the company’s filings showed on Monday. It is aiming to raise $2.8 billion, valuing the company at #32 billion. That’s double its last private valuation in June. The company has been registering annual losses since its founding and the capital raised from the IPO should help meet increased expenses.
DoorDash will list 33 million shares priced between $75 and $85. Even a listing at the lower price range would make the CEO Tony Xu and two other co founders billionaires. DoorDash will offer three different classes of shares. Class A common stock which will grant owners one vote per share. Class B shares granting 20 votes per share, while Class C shares will have no voting rights.
DoorDash is one of a few high-profile and highly anticipated companies such as Airbnb, Roblox, and Wish looking to tap into the hot IPO market by the end of the year. DoorDash will be listed by the end of the year on the New York Stock Exchange (NYSE) under the ticker symbol “DASH”