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.
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