Food delivery app DoorDash is going public, and if all goes according to plan, its CEO, Tony Xu, and two other cofounders will all become billionaires.
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DoorDash is backed by SoftBank Vision Fund, venture capital firm Sequoia and the private equity arm of the Singapore government and has been pushing for an IPO for years.
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"In this Covid backdrop, food delivery is a main artery to get meals for many consumers and that trend looks to accelerate with a second wave," says Wedbush managing director Dan Ives.
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The Street will be laser-focused on this deal."[
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