DoorDash — The Information

Pricing

DoorDash

Why it is one to watch: The DoorDash IPO will help us gauge whether it stands to surpass GrubHub in market cap, as well as how food delivery businesses perform when independent of a larger ride-sharing app (i.e. Postmates/Uber; UberEats).

Expected timing: December.

Type: IPO

S-1: Filed 11/13. Amended filing 11/30 here.

Articles & Briefs

Uber/Lyft

Uber Pays $1.4 Billion For Sole Ownership of Grocery Delivery Startup

June 21, 2021 · 1:46 PM PDT

For founders who are selling their startup, sometimes it pays to not sell all of it right away.

DoorDash CEO Tony Xu. Photo: Bloomberg

Startups Markets

Recent IPOs Yield Huge Equity Grants for Founders

By Cory Weinberg · May 26, 2021 6:01 AM PDT · 5 comments

Squarespace CEO Anthony Casalena already owns more than a third of the website maker, making him a billionaire on paper following the company’s public market debut last week. But like a growing number of tech founders, Casalena is poised to obtain far more equity thanks to a supersize stock grant designed to reward him if the... Squarespace CEO Anthony Casalena already owns more than a third of the website maker, making him...

Amazon E-commerce

The Real Cost of Amazon Prime

By Martin Peers · May 14, 2021 5:00 PM PDT

In his annual shareholder letter a few weeks ago, Amazon founder Jeff Bezos calculated the value the e-commerce giant had created for its customers. He concentrated on how much time Amazon saves shoppers in freeing them from driving to a store to buy goods. His conclusion: The convenience of Amazon Prime is worth $630 a year for each Prime... In his annual shareholder letter a few weeks ago, Amazon founder Jeff Bezos calculated the value...

Disney's headquarters in Burbank.

Why Disney’s Streaming Slowdown Isn’t as Bad as It Looks

By Martin Peers · May 13, 2021 5:00 PM PDT

Disney's headquarters in Burbank.

Amazon Entertainment

Why Disney’s Streaming Slowdown Isn’t as Bad as It Looks

By Martin Peers · May 13, 2021 5:00 PM PDT

How many video streaming services does it take to profitably entertain America? That question has been top of mind for people in the tech and media industries over the past year, as numerous TV companies jumped into the market made popular by Netflix with their own streaming offerings. Whether there was enough demand for each of these to make... How many video streaming services does it take to profitably entertain America? That question has...

Uber/Lyft

DoorDash Bounces Back, Generating $112 Million of Cash in First Quarter

May 13, 2021 · 2:08 PM PDT

DoorDash's free lunch may not be over after all.

Google's Mountain View campus. Photo by Bloomberg.

Google Entertainment

YouTube Checkmates Roku

By Martin Peers · May 7, 2021 5:00 PM PDT · 1 comment

In the power struggle between YouTube and Roku, the Google-owned video giant may have just outmaneuvered its smaller rival. YouTube today announced it was making YouTube TV, the cable TV-like subscription service at the center of the dispute, available within its main app on Roku devices and later on other devices. The move effectively... In the power struggle between YouTube and Roku, the Google-owned video giant may have just...

Policy Uber/Lyft

Biden Drops Trump-Era Rule on Gig Workers

May 5, 2021 · 8:25 AM PDT

The move is the latest signal that the Democratic administration is looking for ways to give workers employed by app-based services more leverage .

Gopuff Revenue Triples, but Growing Competition to Test Expansion

By Cory Weinberg · April 26, 2021 9:01 AM PDT · 1 comment

Startups E-commerce

Gopuff Revenue Triples, but Growing Competition to Test Expansion

By Cory Weinberg · April 26, 2021 9:01 AM PDT · 1 comment

Online delivery service Gopuff more than tripled revenue last year to $340 million as the pandemic sent demand for deliveries soaring, according to a person familiar with the matter and an internal presentation viewed by The Information. Gopuff has told employees it expects to nearly triple revenue again this year to about $1 billion, as it... Online delivery service Gopuff more than tripled revenue last year to $340 million as the...

Startups Are Poaching Facebook, Google Execs

By Sylvia Varnham O'Regan · April 19, 2021 6:01 AM PDT · 2 comments

A few days before DoorDash went public last December, the food-delivery company hired a new vice president of enterprise sales and business development, Shanna Prevé. A 16-year veteran of Google, Prevé weighed the decision for six months before making the jump. Yet she’s far from unusual. Prevé is part of a growing... A few days before DoorDash went public last December, the food-delivery company hired a new vice...

Jack Dorsey. Photo by Bloomberg

Media/Telecom

Dorsey Makes His Case to Wall Street: The Information’s Tech Briefing

By Martin Peers · Feb. 25, 2021 5:32 PM PST

It’s a good thing Jack Dorsey isn’t running for public office. Promising big changes when you’ve been in the job for more than five years tends to prompt skeptical questions. But in this case, investors seem to be willing to give Dorsey the benefit of the doubt. In what was a bit of a bloodbath on Wall Street today, Twitter was... It’s a good thing Jack Dorsey isn’t running for public office. Promising big changes...

Startups

DoorDash Reports Strong Growth But Cash Burn in Q4

Feb. 25, 2021 · 2:13 PM PST

The results showed that DoorDash's marketing costs continued to tick up, raising questions about how the company will fare once the pandemic ends.

DoorDash signs outside the New York Stock Exchange at the time of its IPO in December. Photo by Bloomberg.

Why DoorDash Stock Is Too Pricey and Uber Too Cheap

By Ross Matican · Feb. 15, 2021 6:00 AM PST · 14 comments

DoorDash signs outside the New York Stock Exchange at the time of its IPO in December. Photo by Bloomberg.

Why DoorDash Stock Is Too Pricey and Uber Too Cheap

By Ross Matican · Feb. 15, 2021 6:00 AM PST · 14 comments

Here’s a stock market puzzle. Since DoorDash went public in early December at a higher than expected value for the food-delivery service, Uber’s stock has risen 13%. Investors realize that the premium put on DoorDash implies that Uber’s food-delivery business, UberEats, is also now worth more. But if you value UberEats based on... Here’s a stock market puzzle. Since DoorDash went public in early December at a higher than...

A worker at a cell center in South Africa last July. Photo by Bloomberg

Enterprise Amazon

Sales of Amazon Call Center Service Increased 150% in 2020

By Kevin McLaughlin · Feb. 11, 2021 6:01 AM PST · 4 comments

A few years ago, Amazon released a cloud service that used some of the same software smarts behind Alexa—its voice assistant—to automate customer service call centers for other companies. Amazon’s senior leaders were so bullish on the service, called Amazon Connect, that they made an internal forecast that it could reach... A few years ago, Amazon released a cloud service that used some of the same software smarts...

Art by Jesse Howe

Markets

The Information’s Tech IPO Lockup Calendar

By Ross Matican · Jan. 4, 2021 6:01 AM PST · 2 comments

The past few months have seen many tech initial public offerings rocket on their opening day and in subsequent weeks. The big question over the next few months will be whether those sterling performances will be maintained after the expiration of lockup restrictions on the sale of shares held by early investors and employees. Those lockups can... The past few months have seen many tech initial public offerings rocket on their opening day and...

Photos: Bloomberg. Art illustration by Jesse Howe.

Venture Capital Startups

How Silicon Valley Turned a Doomsday Scenario Into the Hottest Year for Deals

By Kate Clark · Dec. 30, 2020 6:01 AM PST · 1 comment

In June, Rahul Vohra was cooped up in his San Francisco apartment, finding it difficult to concentrate on work as he recovered from Covid-19. After U.S. infections spiked in early March, Vohra had begun preparing for a recession lasting at least two years, stopping most hiring at his email subscription startup, Superhuman, and advising other... In June, Rahul Vohra was cooped up in his San Francisco apartment, finding it difficult to...

What Airbnb and DoorDash Didn’t Teach Us

By Jessica E. Lessin · Dec. 12, 2020 7:47 AM PST · 4 comments

Markets

What Airbnb and DoorDash Didn’t Teach Us

By Jessica E. Lessin · Dec. 12, 2020 7:47 AM PST · 4 comments

It is not every day that tech investors are surprised by how the market is valuing tech darlings like Airbnb. But shock was in the air on Thursday, when I began receiving a series of texts from tech investors saying “Wow,” “What’s going on?” and “This is crazy.” Because while Airbnb certainly has the... It is not every day that tech investors are surprised by how the market is valuing tech darlings...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

The Antitrust Case Against Facebook Begins: The Information’s Tech Briefing

By Martin Peers · Dec. 9, 2020 5:32 PM PST

The long-anticipated antitrust battle against Facebook has begun. Separate lawsuits, from the feds and the states, read at times like a business thriller. For example, the states’ lawsuit quotes an email from CEO Mark Zuckerberg to Instagram co-founder Kevin Systrom warning of the competitive threat Instagram faced if it turned down... The long-anticipated antitrust battle against Facebook has begun. Separate lawsuits, from the...

DoorDash CEO Tony Xu

DoorDash CEO on 85% IPO Stock Pop: ‘Everyone Is Entitled to Their Opinion’

By Amir Efrati · Dec. 9, 2020 4:52 PM PST · 3 comments

Tony Xu, CEO of DoorDash, whose stock jumped 85% on its first day of trading following an initial public offering on Wednesday, said in an interview that “the market will clear what the market will clear,” referring to the share price and the hefty business expectations it implies. Xu said during a Zoom video interview from his San... Tony Xu, CEO of DoorDash, whose stock jumped 85% on its first day of trading following an initial...

Airbnb Expected to Price IPO Above $56-$60 a Share Range

Dec. 9, 2020 · 8:47 AM PST

The latest increase in the travel site's anticipated value ahead of Thursday's public listing reflects the extent of investor IPO enthusiasm.

Tesla CEO Elon Musk. Photo by Bloomberg

Tesla Cashes In on Roaring Market: The Information’s Tech Briefing

By Martin Peers · Dec. 8, 2020 5:30 PM PST

Tesla CEO Elon Musk. Photo by Bloomberg

Tesla Cashes In on Roaring Market: The Information’s Tech Briefing

By Martin Peers · Dec. 8, 2020 5:30 PM PST

For the third time this year, Elon Musk is selling new shares in Tesla to raise cash. It’s a smart move by Musk, given how much money is flowing into the stock market. And it raises the question of why other growth companies that need cash, like Netflix, haven’t taken the same approach. Tesla said today it would sell up to $5 billion... For the third time this year, Elon Musk is selling new shares in Tesla to raise cash. It’s...