Debut reflects enthusiasm for the market leader in U.S. food delivery and interest in new stock offerings Delivery-Only Ghost Kitchens Are Reshaping the Restaurant Industry YOU MAY ALSO LIKE 2:09 Delivery-Only Ghost Kitchens Are Reshaping the Restaurant Industry Ghost kitchens are popping up all over the U.S. as food delivery soars and dining at restaurants plummets amid the pandemic. These businesses, which can host food preparation for multiple restaurants at a single location, are attracting interest from investors and restaurateurs. Photo: Adam Falk/The Wall Street Journal (Originally Published December 3, 2020) By Updated Dec. 9, 2020 1:16 pm ET DoorDash Inc. shares jumped in their public-market debut Wednesday, opening 78% above their IPO price, reflecting investor enthusiasm for the market leader for food delivery in the U.S. and heightened interest for new stock offerings. The stock opened at $182 on the New York Stock Exchange, above its initial public offering of $102, which valued DoorDash at roughly $39 billion and generated $3.37 billion for the company. More recently, shares traded around $177.49.
Door dash ipo is a joke. The amount of hype is just hilarious. Unprofitable with a net loss of over $650 million in 2019!!!!! Competition is too strong in this sector and one simple tweak can send this entire sector upside down. The reason prices of takeout and food in restaurants in general have gone up is due to door dash and grub hub and the likes of the others being the middle man. Its absolutely ridiculous what the cost of take out costs these days. Stay farrrrrr farrrrrr away from this ipo and all the hype. Completely overvalued.
Yea but shouldn't customers stay away from DoorDash delivery prices too? Once the pandemic clears I suppose they will. In the meantime for those who got in on IPO they are playing the greater fool game.
I use a locally owned company to deliver food for my restaurant. Door dash tried to do business with me by testing us out to see if we were busy enough to do business with us. I told them no because they were a huge pain in the ass to deal with.
Absolutely nothing new in the land of fed printing trillions. When you print trillions and trillions of dollars minting billionaires becomes a breeze.
I stopped paying a single penny in tips for any food delivery that charges me a delivery fee. ZERO. No pizza guy gets tips anymore as almost all pizza shops charge a fixed delivery fee. If the delivery workers are not fairly enough compensated through the delivery fee they should quit working for those restaurants or delivery companies. Even then I pay more than the 10% I previously tipped. I refuse to increase profit margins for restaurant owners who want to offload costs for their staff on customers. Charge an all in cost for food and deliver it within a certain radius for free so I can compare cost better and I am in if I assess the value to be fair. I don't give a shit they are small businesses or gigantic ones. I care about my bottom line not theirs.