DoorDash makes US IPO filing public, reveals rapid revenue growth

[NEW YORK] DoorDash, the US food delivery startup backed by SoftBank Group, on Friday made public its regulatory filing for a listing on the New York Stock Exchange, setting the stage for a blockbuster market debut before the end of the year.

In its IPO filing, DoorDash reported revenue of US$1.92 billion for the first nine months of 2020, up more than three times from the same period a year earlier.

DoorDash's filing kicks off a frenetic period for US capital markets, with several high-profile names including home rental giant Airbnb, e-commerce firm Wish and PayPal co-founder Max Levchin's lending startup Affirm lined up for stock market debuts in December.

DoorDash filed for an IPO of US$100 million, although that is a placeholder amount and is expected to change.

The startup had confidentially filed for an IPO in February, following the likes of ride-hailing companies Uber Technologies and Lyft, which went public last year.

REUTERS