DoorDash, the biggest meal-delivery company in the U.S., released its confidential IPO details in an SEC filing today. The DoorDash IPO is expected by year-end.
Shares could pop 30% – 50% in day #1 of trading. And that’s why these Silicon Valley insiders are BUYING DoorDash Pre-IPO shares.
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The DoorDash IPO will be one of the biggest IPOs of 2020.
In the DoorDash IPO, the company plans to raise $2 billion from investors, according to a filing with the Securities & Exchange Commission.
In June the company raised $400 million in capital from Durable Capital, T. Rowe Price and Fidelity.
That financing gave DoorDash a valuation of $16 billion.
Fidelity and T. Rowe Price knew DoorDash planned to go public in an IPO in 2020.
In fact, the company had already filed its confidential IPO paperwork with the SEC back in February. Yet instead of waiting for the Doordash IPO – these firms invested millions and bought Pre-IPO shares.
The latest DoorDash filing doesn’t reveal the company’s expected market value. Yet the DoorDash IPO valuation could be at least $20 billion – a 25% premium to the June Pre-IPO.
The valuation of DoorDash has been soaring in the last couple years. Just check out this chart . . .
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SharesPost reports that the private value of DoorDash shares was $27 per share in 2018. And as recently as June the share price was $229.
That’s a remarkable 733% increase in just over two years!
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Inside the Booming DoorDash Business
DoorDash is the leading meal-delivery company in the U.S.
During September, the company has a 49% market share in the meal-delivery business. That compares with a 22% market share for Uber and 20% for GrubHub.
Here are DoorDash’s financial results for the first nine months of 2020:
- Revenues grew 224% to $1.9 billion
- Net loss shrank 72% to $149 million
The company actually reported a $23 million profit during the second quarter of this year.
DoorDash plans to start its virtual investor roadshow in late November. And the company is slated to go public in a mid-December IPO.
The best investors aren’t waiting for the next big IPO. Instead, they’re scooping up private shares BEFORE a company goes public.
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Yours in Wealth,