DoorDash is capping a year of explosive growth with an initial public offering of it stock, hoping to keep the momentum going even if demand for food delivery eases in a post-pandemic world. The San Francisco-based company has lost money in every year since its founding.
DoorDash raised $3.4 billion in the offering, with its shares priced at $102 each. DoorDash will trade on the New York Stock Exchange under the symbol DASH.
The 7-year-old company is a market leader in the U.S., but wants to expand internationally and get into new businesses like grocery delivery.