iCloud News: Daily Crunch - DoorDash IPO filing revealed

Friday, November 13, 2020 • By Anthony Ha

DoorDash reveals its finances as it prepares to go public, TikTok’s future remains unclear and Nintendo had a good month for sales. This is your Daily Crunch for November 13, 2020.

The big story: DoorDash IPO filing revealed

DoorDash filed confidentially for an IPO earlier this year, and now it has revealed its S-1 filing to the public.

The food delivery company has been growing quickly, from $291 million in revenue in 2018, to $885 million in 2019 and 226% growth so far this year. At the same time, it’s moving closer to profitability, with an operating loss of $131 million in the first nine months of 2020, compared to a loss of $479 million in the same period last year.

After looking at the numbers, Alex Wilhelm concludes, “The company is bigger, growing more quickly and losing less money than I expected.”

The big story: DoorDash IPO filing revealed image

Image Credits: Photo by Tibrina Hobson/Getty Images for Los Angeles Times Food Bowl / Getty Images

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The tech giants

Nintendo's Switch dominates US console sales ahead of PlayStation/Xbox launches — Another banner month for Nintendo hardware sales, per the latest figures from NPD.

The US government sends mixed messages about TikTok's future — The U.S. Justice and Commerce Departments sent conflicting messages today about TikTok.

Twitter labeled 300,000 US election tweets, around 0.2% — Just over a week after the U.S. elections, Twitter has offered a breakdown of some of its efforts to label misleading tweets.

Image Credits: Taylor Hatmaker/TechCrunch

Startups, funding and venture capital

Getaround tops up $25M debt financing to its $140M Series E — It seems that the peer-to-peer car rental startup is looking for new ways to secure cash without further diluting executives or investors.

Filing: Online learning marketplace Udemy is raising up to $100M at a $3.32B valuation — Based on the filing, it's not clear if the round has closed, and whether the full amount was raised.

Kyklo raises $8.5M to bring electrical distributors online — Apparently the process of selling electrical and automation products to manufacturers remains cumbersome, relying largely on PDF catalogs.

Startups, funding and venture capital image

Image Credits: Photo by Smith Collection/Gado/Getty Images / Getty Images

Advice and analysis from Extra Crunch

The VC and founder winners of DoorDash’s IPO — More on DoorDash, particularly who owns how much of the company.

Which emerging technologies are enterprise companies getting serious about in 2020? — It’s not helpful for startups to talk about technology shifts to large company executives who just don't see them as a priority yet.

Fintech VC keeps getting later, larger and more expensive — For smaller players, is the shift toward bigger, more mature rounds undercutting their ability to attract capital and reach scale?

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