Wilson Sonsini, Goodwin Steer DoorDash's Smash $3.4B IPO

Law360 (December 8, 2020, 8:59 PM EST) -- Food delivery giant DoorDash raised nearly $3.4 billion Tuesday after pricing its blockbuster initial public offering above its projected range, represented by Wilson Sonsini Goodrich & Rosati PC and underwriters' counsel Goodwin Procter LLP.

San Francisco-based DoorDash Inc. sold 33 million shares at $102 each, surpassing its upwardly revised range of $90 to $95, and raising $3.36 billion total. The venture-backed startup is valued at about $39 billion based on that IPO price, well beyond its last estimated private valuation of $16 billion.

DoorDash's IPO is the second largest of 2020 for an operating company. Database software firm Snowflake Inc. raised nearly $3.9 billion total in September, including an over-allotment option...

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