DoorDash Inc. is an American on-demand prepared food delivery service founded by Stanford students Tony Xu, Stanley Tang, Andy Fang and Evan Moore. Moore departed and is now a partner at Khosla Ventures.
DoorDash is one of several technology companies that uses logistics services to offer food delivery from restaurants on-demand. DoorDash launched in Palo Alto and, as of May 2019, had expanded to more than 4,000 cities and offers a selection of 340,000 stores across the U.S., Canada and Australia.
Expected to IPO in 2020, the company is currently worth close to $16 billion and is the largest third-party delivery service in the U.S., surpassing Grubhub in 2019. DoorDash will become a publicly traded company in mid-December 2020 with a projected valuation around $25 to $28 billion; the company plans to sell 33 million shares at $75 to $85 a share in an initial public offering which may bring the valuation as high as $32 billion.