by Brandon Butler
DoorDash IPO will make executives rich, while drivers get zip 11/13/2020

Alex Wilhelm for TechCrunch

After filing earlier this year, DoorDash dropped its public S-1 filing this morning, bringing clarity to its numbers and moving it closer to a public debut that should happen before the end of the year. […]

DoorDash is a heavily-backed company, with Crunchbase reporting that the food-delivery giant has accessed around $2.5 billion in capital during its life, most recently in a $400 million round this June. At the time, DoorDash was valued at a towering $16 billion, post-money, giving the company big valuation shoes to fill when it prices its IPO and begins to trade.

Congrats to all of the hard working drivers of DoorDash, who are the literal backbone of this company and who will get nothing from the IPO because you aren’t valued as employees; meanwhile DoorDash executives are gonna have a very, very good Christmas.