DoorDash files for IPO, shows nearly $2B in 2020 revenue

Nov. 13 (UPI) -- Food delivery company DoorDash filed regulatory paperwork on Friday for its initial public offering, which is expected to happen before the end of the year.

The filing reported $1.9 billion in revenue through the first three quarters of 2020 and a net loss of $149 million.

DoorDash said it's seen a significant increase in revenue and orders since the start of the COVID-19 pandemic, as more people are staying home voluntarily or under government restrictions.

Since its founding in 2013, DoorDash has regularly expanded app features and services and changed pricing.

During the summer, DoorDash was valued at about $16 billion.

The food delivery company says it contracts with more than a million drivers and has more than 18 million users. Competitors Uber and GrubHub, which both lag behind DoorDash in market share, are already publicly traded companies.