Shares of delivery unicorn rose quickly in its first day of trading Wednesday and ended up closing at $189.51, up 85 percent, and delivering an initial valuation of more than $72 billion.
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Shares topped $195 at one point, or just over 91 percent above its IPO price. The San Francisco-based company priced shares for its initial public offering at $102 each, above the projected range of $90 to $95. The company is trading on the New York Stock Exchange under the ticker DASH.
The food-delivery platform that connects customers with local and national businesses, has raised $2.5 billion in funding and is backed by investors including , , , , , and , per 附近上门.
Doordash鈥檚 revenue has soared this year as more consumers are having food delivered during the COVID-19 pandemic. The company reported $885 million in revenue for 2019, up from $291 million in 2018. For the nine months ended Sept. 30, 2020, it generated $1.9 billion in revenue, up from $587 million for the same period in 2019.
The company is one of several high-profile startups to go public this week. Enterprise artificial intelligence platform C3.ai also began trading Wednesday. And hospitality unicorn is expected to begin trading Thursday, .
Photo:REUTERS/Carlo Allegri
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