![]() ![]() travel),” the Bernstein report said.Īmong DoorDash’s competitors in prepared-food delivery are Uber Eats, which just completed its acquisition of Postmates, as well as Just Eat Takeaway’s “COVID is simply a unique point in time where consumers aren’t spending on other types of services (e.g. Although White expects the company’s “growth rates to come back down to Earth” once a vaccine is deployed, he believes DoorDash has an advantage because of the market position it established pre-pandemic.īut investors surveyed by Bernstein before the public offering expressed concerns about whether growth will slow - DoorDash’s third-quarter revenue soared 268% year over year - as well as competition and whether consumers will hang onto their delivery habits. Davidson, said in an interview with MarketWatch that he “was not expecting this magnitude of a pop on the first day,” but that investors have a “valid belief” that DoorDash will continue to gain market share even after the pandemic ends. See: The pandemic has more than doubled food-delivery apps’ business The company also is branching out to delivering groceries and more. “We’re in one of the biggest but still most under-penetrated categories,” Xu said, noting that only 10% of restaurant traffic is being delivered today. ![]() In a CNBC interview Wednesday morning, DoorDash Chief Executive Tony Xu said the company is just getting started. Now the question is whether DoorDash can keep growing and sustain its gains and market cap. SNOW,įor the second-largest IPO of 2020 before accounting for overallotments and private placements, according to PWC data, behind only billionaire Bill Ackman’s $4 billion blank-check company, Pershing Square Tontine Holdings Ltd.įor more: On Wall Street, tech companies IPO like its 1999 The total amount raised tied Snowflake Inc. ![]() After becoming one of the biggest beneficiaries of a way of life and economy that has been changed dramatically by COVID-19, DoorDash is the latest company to take advantage of a hot IPO market. See: 5 things to know about DoorDash as it goes publicĭoorDash confidentially filed for a public offering in February, right before the coronavirus pandemic caused the demand for delivery to skyrocket. ![]()
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