Doordash has filed for an IPO on Friday in what is expected to be a massive public offering.
Doordash has had an incredible year like other food delivery apps like Uber Eats, Grubhub and Postmates. In fact, Doordash reported a profit for the first time of $23 million on $675 million in revenue in June. However, Doordash did lose $43 million on $879 million in revenue in quarter 3 of 2020.
According to the New York Post, Doordash is outgrowing Uber Eats and Grubhub. Doordash has become the number 1 food delivery app.
It is reported that the IPO could make the Doordash valuation at $25 billion according to the Wall Street Journal. Doordash was valued at $15 billion earlier this year.
Goldman Sachs and JPMorgan are the lead underwriters for the Doordash IPO.