DoorDash IPO Puts Waitr on a Roller Coaster

DoorDash DASH (disclosure: no position) has soared on the first day of the IPO to a $60 billion market cap. Having priced at $102 it quickly shot up to $180. This clearly looks like a bubble, but so be it. In contrast to DASH, our pick in this space Waitr Holdings WTRH (disclosure: long) is […]

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DASH, Just Another Money-losing Unicorn?

With the latest S-1 filed, DoorDash is aiming for a price range of $75-$85, which could give the firm a valuation of $23.8 billion to $27.0 billion ($25.4 billion midpoint). Such a valuation would be well above the firm’s last private valuation of $16 billion. This MarketWatch article asks: Is it a coincidence that DoorDash filed […]

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The Future of Food Delivery?

It seems that we have all grown accustomed to the business model that loses money with every order, but makes it up on volume. Said another way, we’ve all seen how newly-innovated business models use venture dollars in a race for market share. Early losses are seen as the price necessary to achieve the upper-hand […]

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