Next week is shaping up to be a big one for tech IPOs, with both DoorDash and Airbnb expected to hit the market. Both raise interesting questions for investors, given how each has fared through the pandemic. DoorDash’s offering arguably poses the biggest risks.
The restaurant-meal delivery service on Friday raised its pricing range to between $90 and $95 a share, giving the company an enterprise value of about $30 billion. That’s nearly double the $15.6 billion valuation at which DoorDash raised money in the summer, a massive increase in just six months. And it raises the question of whether DoorDash is asking investors to buy its stock at the very top of the market.