DoorDash discreetly filed documents for an upcoming IPO (being publicly traded). It would join the handle of publicly traded FoodTech companies (Delivery Hero, Uber/UberEats, Beyond Meat, HelloFresh, etc.).
The startup is leading the restaurant delivery market in the US while facing steep competition from Uber, Postmates, Grubhub and many other players.
Why it matters?
As time pass, the still growing but often non profitable food delivery business have to look for new sources of cash. It seems that VCs are less and less keen to finance the (unsustainable and/or unprofitable ?) growth of these startups. Public markets can be a boon but can also reveal the weaknesses as it was the case with Uber and more recently with Casper.
