Money Makers Mentor

DoorDash Files for IPO – The Buttonwood Tree

DoorDash (NYSE: DOORD) officially filed for a $100 million IPO on the New York Stock Exchange on Monday Nov. 16. The company will trade under the symbol DASH.

IPO Details

The company stated in its first public filing with the SEC that it planned to raise $100 million. However, this amount is likely a placeholder that will be updated in later filings. DoorDash plans to offer three classes of stock with different voting shares: Class A common stock will grant owners one vote per share, Class B shares with 20 votes per shares and Class C shares with no voting rights.

As stated in the prospectus, co-founder and chief executive officer Tony Xu and his co-founders Andy Fang and Stanley Tang, are anticipating entering a voting agreement that would give Xu the authority “to direct the v…

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