Door Dash stock starts when the IPO price starts trading at 2 182 per share

Door Dash stock starts when the IPO price starts trading at 2 182 per share

Turdash, America’s largest food delivery company, began trading on Wall Street on Wednesday.

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Turdash raised its share price to 78% The opening bell rang On the New York Stock Exchange on Wednesday with the Wall Street launch. Shares of the company began trading at 2,182 each Tuesday 102 The initial public offering price was set for Tuesday evening. And more than that The $ 75 to $ 85 target range set earlier last month.

Earlier this year, Door Dash was personally valued at about $ 16 billion. Now, as a publicly traded company, its rating is approx. 57.8 billion, According to CNBC. Although the company is not yet profitable, investors say its massive growth shows promise. In a filing with the U.S. Securities and Exchange Commission last month, Turdash announced revenue profit, Reduction in losses and increasing supply of customers, merchants and distribution workers.

“If we make it possible to deliver groceries within an hour before the ice cream melts, or before the pizza cools down, we can make sure that anything within a city is delivered on demand,” Tor Soo CEO and co-founder Tony Sue wrote in the letter.

Like the corona virus, the last few months have seen an increase in door dash Caused people around the world to seek shelter And stay indoors. Founded in 2013, the San Francisco-based company has millions of customers ordering their food on stage instead of going to restaurants. Taking advantage of this time, Tordash has expanded from restaurant distributions to grocery, pet store and convenience store distributions.

It now has more than 18 million customers, partners with more than 390,000 merchants and more than 1 million distribution workers on its platform, Doordash says.

However, Tortosh’s business is not without risk. In a federal filing, the company said it faces stiff competition from companies such as Uber and the group. Dor Dash also said its operations could be affected if its distribution workers – or tasers, as the company calls them – are reclassified as employees. This will take care of pay and benefits costs, as well as any discrimination claims or employee welfare claims that may arise.

Another risk factor for its business, Tordash filed, is its ability to “attract and retain cost-effective tashers.” “Negative feedback from our site or company can be detrimental to our reputation, brand and local network outcomes,” the company added. Last month, the company settled a $ 2.5 million lawsuit with the Attorney General of Washington D.C. Tips from distribution staff were discontinued.

“We’re glad this issue is behind us,” a Door Dash spokesman told CNET at the time.

Door Dash began trading on the New York Stock Exchange on Wednesday under the brand name DASH. Goldman Sachs and JPMorgan Chase led the IPO.

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About the Author: Max Grant

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