Restaurant, catering and food delivery logistics platform company DoorDash Inc. (DASH:NYSE) went public today and the action was well received with much fanfare.
The company initiated its listing on the New York Stock Exchange (NYSE) by offering 33 million shares priced at $102.00 per share under the ticker symbol DASH.
The firm's shares were priced at $102.00 per share, but then proceeded to open at $182.00 (+$80.00, +78.43%). The stock traded over 25 million shares today between $163.80 to $195.50 per share and closed at $189.51 per share (+85.79%), nearly double the IPO price.
DoorDash is headquartered in San Francisco and operates a logistics platform that smartly connects merchants with customers via its independent delivery staff, which it calls "Dashers." The company allows consumers to place and pick up advance orders or request delivery.
The company states on its website that it offers consumers choices of all styles and types of cuisine from more than 300,000 local and national restaurant providers across Canada and the U.S. Available options range from fast food choice like burger and fries to ethnic foods from just about every country imaginable. Meal selections can be as simple as fast food items all the way up to gourmet choices and catering for group events.
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