DoorDash goes public; CEO now worth over $3 billion and SoftBank gains 16x returns

DoorDash has brought over 16x in returns to SoftBank's investment in the company.


Alfred Lee

10 Dec, 2020

DoorDash goes public; CEO now worth over $3 billion and SoftBank gains 16x returns | BEAMSTART News

- From our Sponsors -

On Tuesday, America's DoorDash went public, raising $3.37 billion on their IPO.

Shortly after their debut, the company's shares soared over 92%, reaching a high of $195.50, valuing it close to $70 billion

With DoorDash's shares soaring, it's co-founder and CEO Tony Xu's stake is now worth $2.7 billion.

DoorDash CEO, Tony Xu

One of the company's largest investors was SoftBank, who emerged as one of the biggest winners from the company's IPO.

The Japanese telecommunications giant owns 20% of DoorDash post IPO, a stake acquired just 2 years ago for $680 million via the Vision Fund.

At DoorDash's current share price, SoftBank's gains are more than 16x the initial investment.

“DoorDash is an example of what a successful IPO can look like and people are buying SoftBank on the expectation that profit will continue to grow. Investors are once again recognizing Son’s skill as an investor”, said Makoto Kikuchi, chief investment officer at Myojo Asset Management Co..
A DoorDash food delivery rider.

As of October 2020, DoorDash had over 50% share of the food delivery market, surpassing UberEats, GrubHub, and Postmates.

DoorDash's revenue for Q3 (ending in September) reached US$879 million, up by more than 3X since a similar period last year.

- From our Sponsors -

Latest Jobs

AI Engineer

Fathom

Full Time

USD 130000 — USD 160000 yearly

Full Stack Engineer (India)

VectorShift

Full Time

USD 20000 — USD 30000 yearly

UX Product Designer

just words

California,

Contract

USD 50000 — USD 100000 yearly

Visual / Graphic Designer

CoinTracker

Contract

USD 75000 — USD 100000 yearly

Graphics Designer

Floworks

Karnataka,

Full Time

USD 800000 — USD 1200000 yearly

Founding Engineer

Clarion

New York,

Full Time

USD 110000 — USD 160000 yearly

Technical Writer

Formance

Île-de-France,

Full Time

USD 70000 — USD 100000 yearly

iOS Engineer, Trust & Safety

Whatnot

Full Time

USD 185000 — USD 245000 yearly

DevOps/Cloud Engineer

Pump.co

California,

Full Time

USD 70000 — USD 150000 yearly

Integration Engineer

Athelas

Full Time

USD 100000 — USD 140000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).