Delivery company DoorDash has made public its initial public offering (IPO) paperwork, which shows that DoorDash has generated $1.9 billion in revenue in the first nine months of 2020, ending in September.
During that time, the company reported losses of $149 million. During the same period in 2019, it lost $533 million. However, in the second quarter of 2020, DoorDash generated a profit of $23 million.
“The pandemic has demonstrated how vital we are to the communities in which we operate,” the company said in the paperwork. “With the pandemic, our platform has become a lifeline for merchants whose only revenue options are take-out and delivery, for consumers sheltering in place, particularly vulnerable populations whose health depends on isolating, and for many of the millions of newly unemployed in need of earnings opportunities.”
DoorDash intends to list its stock on the New York Stock Exchange (NYSE) under the symbol ‘DASH.’
Founded in 2013, DoorDash now operates in more than 4,000 cities and all 50 states across the U.S., Canada, and Australia.
The company said it has 1 million delivery employees, which it calls ‘Dashers’ and more than 18 million customers. It also had over 5 million customers on its $9.99 per month DashPass service as of Sept. 30. The offering gives customers free delivery from restaurants part of the program.