DoorDash reports surge in lockdown revenue in IPO filing
Soaring demand during the pandemic allowed food delivery app DoorDash to post revenues of $1.9bn for the first nine months of 2020, helping narrow its losses as it unveiled financial figures for the first time ahead of its hotly anticipated initial public offering. In its prospectus, published on Friday, the US-based company provided a detailed accounting of its business model, as it attempted to convince investors of its prospects in a sector that has been marked by steep losses and consolidation. During the pandemic, DoorDash’s revenues increased more than 200 per cent, up from $587m in the same period …
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