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Quick thread on the Doordash S-1
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below
@DoorDash founded in 2013 by a group of Stanford graduates among which is current CEO @t_xu and @khoslaventures partner @evancharles . Doordash was part of YC then went on to raise 2.4 million $ funding from @saarsaar @rabois @arachleff to name a few.
The company made its 2/
The company made its 2/
First delivery in jan 12th 2013. They initially roll out in the Stanford campus. Seven months into founding they are incorporated in Delaware.
The vision?
To build a local on demand fedex. The key difference is @DoorDash build relationships and was much more than just a 3/
The vision?
To build a local on demand fedex. The key difference is @DoorDash build relationships and was much more than just a 3/
Logistics player. Their goals:
Help small businesses grow
Help unemployed people get a meaningful livelihood.
Make it more affordable for customers
One year after their initial funding.
@Alfred_Lin passed on their seed investment but went on to lead their series A 4/
Help small businesses grow
Help unemployed people get a meaningful livelihood.
Make it more affordable for customers
One year after their initial funding.
@Alfred_Lin passed on their seed investment but went on to lead their series A 4/
@DoorDash went on to raise 17.3 million dollar lead by @sequoia
Fun fact at the time of their series A door dash was in 1/6 households in the Bay Area peninsula.
By the end of 2015 Doordash had expanded internationally across borders to Canada meanwhile the raised 40M 5/
Fun fact at the time of their series A door dash was in 1/6 households in the Bay Area peninsula.
By the end of 2015 Doordash had expanded internationally across borders to Canada meanwhile the raised 40M 5/
Series B led by @johndoerr @kleinerperkins valuation at 600 M .
April 2015 Doordash launches their app.
End of 2015,
They are in 22 markets
and 250 cities 
.
March 2016 they raise series C 127 Million led by @sequoia .
End of 2016 launches their Doordash drive 6/
. April 2015 Doordash launches their app.
End of 2015,
They are in 22 markets
and 250 cities .March 2016 they raise series C 127 Million led by @sequoia .
End of 2016 launches their Doordash drive 6/
By the beginning of 2017 they were in 28 markets and 250 cities.
They also announce partnership with startship to use robots to make shorter deliveries.
2017 they partner with e-bike company GenZe to help dashers get their rides in LA, Vancouver etc 7/
and 250 cities. They also announce partnership with startship to use robots to make shorter deliveries.
2017 they partner with e-bike company GenZe to help dashers get their rides in LA, Vancouver etc 7/
First acquisition of rickshaw a YC company for an undisclosed amount in end of 2017.
They then went on to raise 335 million $ led by SoftBank. Then raised another 250 million $. Last valuing their company at 4 billion $ 8/
They then went on to raise 335 million $ led by SoftBank. Then raised another 250 million $. Last valuing their company at 4 billion $ 8/
Coming forward to 2020.
Their revenue numbers
1.9 billion vs 587 M
-149M vs -667M
Third quarter growth of 300% with respect to number of orders 236 M vs 70 M
They raised 400M to be valued at 16B.
To add to their good fortune passage of prop 22 in California . 9/
Their revenue numbers
1.9 billion vs 587 M
-149M vs -667M
Third quarter growth of 300% with respect to number of orders 236 M vs 70 M
They raised 400M to be valued at 16B.
To add to their good fortune passage of prop 22 in California . 9/
At the time of IPO
The top shareholders are
@softbank with 18+ %
@sequoia with 15.3%
@GIC with 7.8%
The three founders combine for 12.4 % with Xu owning 4.4%.
Although @Alfred_Lin and @sequoia got in a bit later their 217 M $ cumulative investment helped them hold on to a 10/
The top shareholders are
@softbank with 18+ %
@sequoia with 15.3%
@GIC with 7.8%
The three founders combine for 12.4 % with Xu owning 4.4%.
Although @Alfred_Lin and @sequoia got in a bit later their 217 M $ cumulative investment helped them hold on to a 10/
Sizable stake thats worth 2.4B $ that’s a 10x on capital invested. Although SoftBank holds a higher percentage their investment cost them more as well but it turn out as a good investment for Masayoshi sons firm as well. 11/
Things to note
@doordash might have a driverless delivery system in the near future!
Margins due to the huge promo codes given out to entice customers, can’t comment on that now.
But doordash is on the road to profitability and is coming out with an IPO at the right time 12/
@doordash might have a driverless delivery system in the near future!
Margins due to the huge promo codes given out to entice customers, can’t comment on that now.
But doordash is on the road to profitability and is coming out with an IPO at the right time 12/
Anything I’ve missed or I should add? Thoughts? @Alfred_Lin @semil @saarsaar @rabois @evancharles @t_xu
