The December unicorn IPO parade begins next week as DoorDash (DASH) prepares to raise $3.1 billion at a $35 billion valuation. Prospective investors will likely look to Europe's Just Eat Takeaway.com (ENXTAM: TKWY) as a top comp.
DoorDash and Just Eat Takeaway.com are leaders in online food delivery services, an area that has seen explosive growth amid worldwide shelter-in-place orders. While Just Eat Takeaway.com was founded more than a decade earlier, DoorDash’s proposed market cap is twice as large thanks to its industry-leading growth. In addition to following Silicon Valley’s playbook of raising and losing billions, DoorDash succeeded by focusing heavily on US suburbs. Meanwhile, Just Eat Takeaway.com has grown slower but more profitably, expanding its scale and margins with major acquisitions.
To read the rest of the article, sign up for a free trial of IPO Pro.
The article Food Fight: How DoorDash stacks up against Just Eat Takeaway.com originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
