DoorDash releases S-1 for IPO

DoorDash Inc.’s stratospheric rise out of the IPO gate on Wednesday raises the age-old question: Did the company and its advisers leave money on the table?

DoorDash has become the go-to delivery choice for millions of people cooped up during the pandemic this year. Now it has filed an S-1, revealing its financials as it nears a long-intended IPO. These innards show an exciting business — and a larger story about how the year is going for tech companies in general.

The company has plans to go well beyond food delivery. DoorDash, the largest U.S. food delivery startup, published its long-awaited initial public offering prospectus on Friday, showing that it continues to lose money even as the COVID-19 pandemic rages and has multiplied its sales threefold this year.

DoorDash has the lead in U.S. market share for food delivery. filed its IPO prospectus with the Securities and Exchange Commission. reported $1.9 billion in revenue for the nine months ended Sept. 30 and a net loss of $149 million. Its last private valuation was $16 billion, and it has raised $2.5 billion.