DoorDash is concentrating on a long-awaited $ three.14 billion preliminary public providing
© Reuters. FILE PHOTO: A Doordash delivery driver rides his bike in the rain in Manhattan, New York
(Reuters) – Grocery delivery startup DoorDash Inc announced Friday that after having lifted its price range, it will now expect an IPO in the US of up to $ 3.14 billion, which is fueling interest the investor signals.
DoorDash, the largest US third-party restaurant company, plans to sell 33 million shares for between $ 90 and $ 95 each. 000119312520309968 / d752207ds1a.htm. Previously, a price range between $ 75 and $ 85 per share had been targeted.
DoorDash was founded in 2013 and is backed by the Vision Fund, managed by Japanese tech giant SoftBank Group Corp, venture capital firm Sequoia Capital and the government of Singapore Investment Corp (GIC), Singapore's sovereign wealth fund.
Market cap at the high end of the range would be around $ 30 billion.
San Francisco-based DoorDash plans to list its shares on the New York Stock Exchange this month under the ticker "DASH". She had confidentially applied for an IPO in February.
DoorDash and rivals Uber (NYSE 🙂 Eats, Grubhub Inc and Postmates Inc have benefited from a surge in demand for grocery delivery services due to widespread COVID-19 restrictions.
Goldman Sachs (NYSE 🙂 and J.P. Morgan are the primary insurers for the offering.
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