How is DoorDash

IPO alarm in food delivery: DoorDash also goes public

DoorDash is another food delivery company aiming for the New York Stock Exchange. The IPO promises to be exciting. Because DoorDash is already the market leader in the USA with a market share of almost 50 percent. The IPO should take place in December.

According to CNBC DoorDash plans to issue 33 million shares at a price of $ 75 to $ 85 per share. DoorDash is aiming for a valuation of 32 billion dollars. Overall, DoorDash wants to collect up to $ 2.8 billion when it goes public. A total of three types of shares with different voting rights are to be issued. The share is to be traded under the symbol "DASH".

Operational development

DoorDash posted sales of $ 1.9 billion in the first nine months of the current fiscal year, up $ 587 million from last year. As a result, DoorDash's revenues grew by around 47 percent compared to the previous year. DoorDash lost $ 149 million. This is also significantly better than in the relevant comparison period. Last year the loss was $ 533 million.

With an estimated annual turnover of around three billion dollars and a targeted stock market valuation of 32 billion dollars, DoorDash would have a 2020 KUV of 10.7, which appears expensive in a peer group comparison, even considering the market leader premium. The direct competitors Grubhub and Uber have a 2020 KUV of 3.6 and 7.6 respectively. Investors should therefore watch DoorDash's IPO from the sidelines.