- Food delivery company DoorDash has filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering today
Food delivery company DoorDash has filed paperwork with the U.S. Securities and Exchange Commission (SEC) for an initial public offering today. In the S-1 filing, DoorDash reported $1.9 billion in revenue for the 9 months ended September 30, which is up from $587 million during the same period a year ago.
DoorDash now has over 18 million customers. And the company now has over 390,000 merchants on the platform and over 1 million delivery workers (Dashers).
And DoorDash also reported that it had over 5 million DashPass members who pay $9.99 per month for unlimited deliveries from participating merchants.
“DoorDash has always been about helping local businesses succeed, more so than about food delivery. As students at Stanford, we canvassed the Bay Area asking dozens of local businesses what they needed to grow their business. When they shared the challenges related to delivery, we were surprised. Delivery was not a new idea, yet outside of New York City in the United States, very few businesses offered it. Seven years ago, we could not have imagined how big a transformation this would become, and we are still in the early innings of this evolution of local commerce,” wrote DoorDash CEO and co-founder Tony Xu.
DoorDash will be trading on the New York Stock Exchange with the symbol DASH. And trading is going to start in mid-December.
