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DoorDash Soars in IPO to $60 Billion Market Cap

Stock MarketsDec 09, 2020 12:47PM ET
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© Reuters

By Christiana Sciaudone

Investing.com -- Doordash Inc (NYSE:DASH) is a smash hit. The food-delivery company opened trading at $182, a whopping 78% jump over the $102 at which it priced on Tuesday.

The company sold 33 million shares -- originally marketed between $90 and $95 -- on Tuesday to raise $3.37 billion in its initial public offering and now has a market value of about $60 billion.

DoorDash's IPO is the third-largest in the U.S. this year, topped only by Bill Ackman's $4 billion blank-check company and Snowflake Inc's (NYSE:SNOW) $3.86 billion offering.

The food delivery company competes with Uber (NYSE:UBER) Eats, GrubHub (NYSE:GRUB) and any number of smaller rivals. Our need to order breakfast, lunch and dinner has skyrocketed in 2020 with governments requiring citizens to hunker down at home and prevent the spread of the Covid-19 virus. The first vaccines have started to be given this week in the U.K., and the rest of the world is poised to catch up, at some point eliminating the need to order in. 

Next up: Airbnb, which is set to price later today.

 

 

DoorDash Soars in IPO to $60 Billion Market Cap
 

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Comments (13)
Joel Schwartz
Joel Schwartz Dec 09, 2020 7:54PM ET
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So a record number of resturants won’t survive the year, but a food delivery service is worth $60B? Um...
Jesse Mulliniks
Jesse Mulliniks Dec 09, 2020 6:54PM ET
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What a joke
Allen Drewe
Allen Drewe Dec 09, 2020 2:59PM ET
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fools and their money. Door dash isnt worth $50 a share
Pablo Fuentes
Pablo Fuentes Dec 09, 2020 2:59PM ET
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Agree
Red Hot Scorpion
Red Hot Scorpion Dec 09, 2020 2:59PM ET
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that is what they said about Tesla. see where Tesla is now.
Joel Schwartz
Joel Schwartz Dec 09, 2020 2:59PM ET
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Red Hot Scorpion You’re comparing Tesla to DoorDash? Bro
Anthony Anthony
Anthony Anthony Dec 09, 2020 2:21PM ET
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How do you know ur food delivery boy ain't got no covid?
Jesse Mulliniks
Jesse Mulliniks Dec 09, 2020 2:21PM ET
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You don’t, its part of the surprise
Kashington Willis
Kashington Willis Dec 09, 2020 2:11PM ET
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is there long term upside if they can beat out or aquire grubhub?
Billy Bilnaad
Billy Bilnaad Dec 09, 2020 2:11PM ET
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Grubhub is already bought by Just Eat
Kashington Willis
Kashington Willis Dec 09, 2020 2:11PM ET
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long term upside if they can beat out or aquire grubhub?
nida teba
nida teba Dec 09, 2020 1:40PM ET
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it is 2000 all over again
Damian Ciceri
Damian Ciceri Dec 09, 2020 1:35PM ET
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way overpriced for a a middle man company that simply brings food to your door.
simon meso
simon meso Dec 09, 2020 1:35PM ET
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too much money. when this gona burst?
Damian Ciceri
Damian Ciceri Dec 09, 2020 1:35PM ET
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soon...how they managed to value this companies IPO at this price is distorted
Botao Jiang
Botao Jiang Dec 09, 2020 1:33PM ET
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your average company taking out a loan in the stock mkt lol
Jaime Quadra
Jaime Quadra Dec 09, 2020 1:33PM ET
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big food delivery bubble
James Bell
James Bell Dec 09, 2020 1:12PM ET
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it will be a great short option once all the investors dash for the door.
Chiemerie Oguejiofor
Chiemerie Oguejiofor Dec 09, 2020 1:12PM ET
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lol
Gregory Bashaw
Gregory Bashaw Dec 09, 2020 1:12PM ET
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Before GrubHub was bought the stock wasnt even this expensive
Mojo Snake
Mojo Snake Dec 09, 2020 1:04PM ET
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Just another overpriced Wall St *****... You can find them everywhere.
Matt Kay
Matt Kay Dec 09, 2020 1:00PM ET
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Company generating no profit is worth 60 billion. Not a bubble....
 
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