Your Dasher Is Here

[The beef 675] “Hopefully DoorDash's stock performs better than Uber or Lyft has since going public.” - Jeff Hey there carnivores, Markets were up to end the week, with the S&P hitting an all time high. Today we’re talking DoorDash’s IPO Keep raging, Jeff & Jason DoorDashing through the IPO Good news for DoorDash management… now they can point to shareholder pressure [when withholding Dashers' tips](. At long last, DoorDash filed its IPO prospectus on Friday. The food delivery app maker [initially filed]( with the SEC back in February, but put its plans on the back burner after ‘rona boi washed ashore. You’re not the only one to put big plans on hold this year, DD. However, the year of our lord 2020 has been good to DoorDash. Must be nice. Double D reported revenue of $1.9B during the first three quarters of the year, which is up from $587M during the same period last year. The company's net loss also plummeted, falling from $533M in 2019 to $149M this year. Food delivery companies have been one of the bright spots during the pandemic, as quarantined Americans did their best to stress-eat themselves into a high risk 'rona boi category. Case in point: GrubHub’s stock has risen 49% YTD. The market leader in meal deliveries is valued at $16B, and has raised $2.5B to date. Stock and Valuation DoorDash, appropriately flying under the stock symbol $DASH, [will offer three classes]( of stonks, all with different voting rights. Class A will come with one vote per share, Class B will come with 20 votes per share, and Class C will have no voting rights. CEO Tony Xu and co-founders Andy Fang and Stanley Tang are expected to enter into an agreement that would grandfather Xu into the B class and give him similar voting rights to those of the co-founders. The bottom line... DoorDash will join GrubHub and Uber as publicly traded food delivery companies in the US. Gig economy companies like Lyft, DoorDash, and Uber, scored a major win last week, as voters in California voted [to support a proposition]( that allows these companies to classify their workers as contractors instead of employees. DoorDash addressed this in its filing, stating that the measure would have adversely affected its business, financial condition, and operations. The costs would’ve added up, as there are 1M Dashers (delivery drivers) on its payroll. 📢 Must Watch Kyle Dennis Is On Pace To Have His Most Profitable Year Trading* Discover How He Times His Trades To Near Perfection, His Number 1 Edge And How He Uncovers Trends And Catalysts In The Market [Register Now]( Bad beat DraftKings released its quarterly earnings, and while what they said was less than positive, the stock [climbed]( 3.85% after the company boosted full year revenue guidance to $540M to $560M, up from $500M to $540M. Eat sh*t, Penn. It also gave 2021 earnings estimates of $750M to $850M, up 45% over Wall Street’s guesses. A gambling man’s stock. You can’t knock them for staying on brand. As for the current quarter, DK lost 98 cents per share, more than analysts expected (63 cents per share). On the bright side, revenue came in at $132.8M for the quarter, up 98% from a year prior. Getting extensions TikTok is like that kid who gets extra time to take his test in college. The social media platform, which had a November 12th deadline to go all mail order bride and sell itself off to the highest US bidder, has [received an extension]( to close a deal. Was there some big, nationwide event that happened in early November that made everyone forget about TikTok for a while? Now, the ByteDance owned company has until November 27th to find a suitor. Just in time for some nuanced Thanksgiving discussions. The Committee on Foreign Investment in the United States granted the extension to "provide the parties and the committee additional time to resolve this case in a manner that complies with the Order." That order, of course, was DJT’s announcement that ByteDance had to divest TikTok within 90 days. Has it been 90 days already? It’s still March in my mind. Walmart and Oracle were the purported winners of the Snapchat competitor, and now they have a little longer to seal the deal. Diversifying PNC could be going international, as the US bank is in [advanced talks]( to scoop up Spanish bank BBVA’s US arm. And they’ll probably never stop talking about their trip to Spain, just like that one girl who thinks studying abroad in college is a personality trait. The deal could be valued at upwards of $10B, and would create the US’ fifth largest retail bank. PNC currently has a market value of over $50B, much of which it gained after selling its stake in BlackRock for $15B earlier this year. It would now be creating a bank with more than $550B in assets, and branches all over the Eastern seaboard. "For the last time, no we will not put your name on the Pittsburgh Pirates' stadium." - PNC leadership to BBVA brass Ready to sell Uber is ready to slim down. Its Advanced Technologies Group is reportedly [up for sale](. Most recently, Uber’s self-driving ATG was valued at $7.25B, and had received investment from Toyota, DENSO and SoftBank’s Vision Fund. One of Masa Son’s investments that hasn’t yet proven to be a complete mistake… yet. Who might they sell to? Aurora Innovation, a company founded by Google, Tesla and Uber autonomous vehicle vets. According to reports, the companies have been talking since October. Wouldn’t it just be cheaper for Aurora to [hire Anthony Levandowski?]( *Results presented are not typical and may vary from person to person. 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