DoorDash raises its launch price range on the stock market for the first time amid strong demand for tech stocks

Food delivery startup DoorDash expects its value to rise to $3.14 billion when it launches in the US market for the first time, the company was established in 2013 and is currently the third largest company in America to deliver orders, as it raised the price range of its shares after the great investor interest in technical stocks, which also rose due to the Corona pandemic. The company plans to sell 33 million shares at a price ranging between $90-95 per share, the company’s market capitalization, according to the highest value per share price range, will reach $30 billion.

In the same context, several large companies from Silicon Valley, including Palantir Technologies and Snowflaker, enjoyed great demand when they were first launched in the stock market to join the wave of stock price hikes in the markets in the second half of this year caused by financial incentives and hopes of an effective vaccine for the virus Corona.

The launch of DoorDash in the stock market, as well as home rental startup Airbnb, will make this December a busy month for companies to come to market, but it will mark a strong end to a record year.

DoorDash and its competitors Uber eats, Grunhub and Postmates benefited from increased demand for meal delivery services due to the increasing restrictions of the Corona crisis, and DoorDash announced revenue growth in 2020 and published its first quarterly profit, and Goldman Sachs and J.P.Morgan will be the primary guarantors of the company’s offering.

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