(Reuters) – Food delivery startup DoorDash Inc said on Friday it now expects to raise up to $3.14 billion in its U.S. initial public offering (IPO) after lifting its pricing range, signaling a frenzied interest from investors.
DoorDash, the biggest U.S. third-party delivery company for restaurants, plans to sell 33 million shares at between $90 and $95 apiece, it said in a regulatory filing https://www.sec.gov/Archives/edgar/data/1792789/000119312520309968/d752207ds1a.htm. It had earlier targeted a price range of between $75 and $85 per share.
Founded in 2013, DoorDash is backed by the Vision Fund managed by Japanese tech giant SoftBank Group Corp, venture capital firm Sequoia Capital and the Government of Singapore Investment Corp (GIC), Singapore’s sovereign wealth fund.
Video: DoorDash kicks off IPO roadshow with updated filing (CNBC)