The US-based food delivery startup was reportedly valued at $13bn in November and raised more than $2bn since 2013, according to data provider PitchBook, but as a loss-making business targeting growth over profits its chances would normally appear slim in the wake of WeWork’s failed process last Autumn.
Factor in the sharpest fall in stockmarkets since the last crisis over the past week due to fears about the covid-19 virus’ impact on the economy, according to the Financial Times, and there is more than likely a slip between cup and lip over this flotation.
As it is a confidential filing, financial numbers are yet to be reported for DoorDash and so the press reports released might be potentially a signal of confidence to the market in order to try and get another private round completed.
That said, Silicon Valley Bank’s quarterly state of the markets report published earlier in the month predicted “a strong exit market with 25-35 US, VC-backed IPOs” this year.
And with Spring just around the corner hope always springs eternal even if the chances of this delivery of stock happening appear vanishingly remote right now.
