Business

DoorDash aims to raise US$3.14 billion in much-awaited IPO

Food delivery startup DoorDash Inc said on Friday it now expects to raise up to US$3.14 billion in its U.S. initial public offering (IPO).

FILE PHOTO: A delivery person for Doordash rides his bike in the rain in the Manhattan borough of N
FILE PHOTO: A delivery person for Doordash rides his bike in the rain in the Manhattan borough of New York City, New York, U.S., November 13, 2020. REUTERS/Carlo Allegri/File Photo

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REUTERS: Food delivery startup DoorDash Inc said on Friday it now expects to raise up to US$3.14 billion in its U.S. initial public offering (IPO).

DoorDash, the biggest U.S. third-party delivery company for restaurants, plans to sell 33 million shares priced between US$90 and US$95 apiece, it said in a regulatory filing. It had earlier targeted a price range of between US$75 and US$85 per share.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva)

Source: Reuters