Airbnb and DoorDash make their stock market debut this week as part of a “unicorn parade” capping a busy year for hot startups going public.
Firms going public with lofty valuations, some in the tens of billions, have been concentrated in technology, such as big data analytics group Palantir and cloud storage firm Snowflake earlier this year. “You are seeing some of the strongest tech companies of the last five to seven years come public, like Palantir,” Wedbush analyst Dan Ives told AFP. “It has definitely been a strong year for IPOs.”
San Francisco-based DoorDash, which competes with GrubHub and Uber Eats, operates a leading online platform connecting people ordering food with those willing to deliver it.Investment research firm New Constructs chief executive David Trainer warned investors about the DoorDash market debut, branding it “ridiculous.”
The vacation rental platform, expected to hit the market Thursday, has fared better than travel industry peers with its home-sharing platform offering more appeal during the pandemic.