An alternative data profile on Doordash as it prepares to potentially deliver an IPO
With several hotly anticipated IPOs for 2019 passed, a few still remain as potentially huge splashes during the summer. This includes Doordash ($DOORDASH) who blew past unicorn status with a valuation over $7.1 billion as of February.
If it decides to go public as expected, here's what investors will be buying into:
A company with a healthy portion of job growth...
Since we started tracking Doordash's job openings in late 2016, its job posting rate has quintupled, which goes to show how much those hundreds of millions of dollars from their investors are paying off in human capital.
Over time, Doordash's hiring has shifted from Sales to developer positions ("N/A — Posting Required"), and its taxonimy for positions has changed quite a bit since we first started tracking it.
Served alongside a vast delivery network
As we covered in our food delivery report, we targeted Doordash as the second biggest food delivery service in the world thanks to its overwhelming presence in North America. Since that report, Doordash added about 80,000 more restaurants that it delivers from, according to our data, as it continues to grow its offerings in the United States and Canada.
(You can see that growth by enabling the "Show Timeline" function at the bottom of the map.)
Without question, it is the largest food delivery service in America, beating out the likes of Grubhub ($NYSE:GRUB) and Uber Eats ($UBER), although it does not have much outside the North American continent.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.