- DoorDash Inc shares soared 80% in their debut on Wednesday, valuing the food delivery company at $68.4 billion or more than four times its worth at a private fundraising round six months ago, underscoring investor appetite for technology companies boosted by the COVID-19 pandemic.
DoorDash co-founder and Chief Executive Tony Xu, whose stake in DoorDash is worth $2.7 billion based on the stock’s opening price, said he had no regrets over the company’s IPO price. The IPO gives DoorDash a fully diluted valuation - which includes securities such as options and restricted stock units - of $68.4 billion, far higher than the $16 billion it commanded in a June private fundraising round.DC attorney general orders DoorDash to cut commission in subscription program -source
The company and rivals Uber Eats, Grubhub Inc and Postmates Inc have benefited from a surge in demand for food delivery services due to COVID-19 restrictions.
Undeserved and grotesque. They won't share a DIME of that with their 'independent contractors'.