A DoorDash IPO in December?

DoorDash could be on the verge of going public very soon, especially now that it has overcome a major legal hurdle in California. Proposition 22 has passed which means that gig companies, like DoorDash, Instacart, Uber (NYSE: UBER), and Lyft (NASDAQ: LYFT), can retain their drivers as independent contractors. DoorDash could be on the verge of going public very soon, especially now that it has overcome a major legal hurdle in California. Proposition 22 has passed which means that gig companies, like DoorDash, Instacart, Uber (NYSE: UBER), and Lyft (NASDAQ: LYFT), can retain their drivers as independent contractors. [Wealth Daily logo] A DoorDash IPO in December? [Monica Savaglia Photo] By [Monica Savaglia]( Written Nov 10, 2020 Delivery and ride-hailing companies in California won big on Election Day. The passing of Proposition 22 means that these delivery and ride-sharing companies will be exempt from a new labor law in California that requires companies to classify certain workers, including delivery drivers, as employees instead of contractors. Drivers are the backbone of tech companies like DoorDash, Instacart, Uber (NYSE: UBER), and Lyft (NASDAQ: LYFT). These companies needed this proposition to pass, which explains why they fiercely campaigned and gave millions to ensure people voted “Yes” on Proposition 22. It's no surprise that it became one of the most expensive ballot measures in California history. About $190 million were spent to campaign for the proposition. According to the California Secretary of State’s website, about $48 million came from DoorDash and over $27 million from Instacart. Already-public companies Uber and Lyft experienced the good news firsthand when they saw a jump in stock price on Wednesday, November 4. While this might be good news for the companies, both have experienced hardships over the last few months because of the COVID-19 pandemic. The Only Way to Survive in This Market Ex-Wall Street banker Jason Williams here. And you’re right about these markets: A LOT of money will be lost. But here’s the thing — that money is NOT going to disappear. Instead, it’s going to be snapped up by financial insiders who know how to weather the storm. [Find out what they’re doing](, and how you can do the same, when you claim an emergency FREE copy of my brand-new book [Endless Income: 67 Hidden Wealth Hacks Used by the Ultra Rich.]( With lockdowns and not many people needing rides to work or a night out, Uber's and Lyft’s core businesses have been hurting badly. Both companies are currently trading below their IPO prices and struggle to gain investor confidence. "No” to Proposition 22 would have been detrimental to Uber and Lyft, necessitating total re-evaluations of their business models. Instacart and DoorDash were in much better positions during the COVID-19 pandemic. Both companies deliver food and offer various delivery services. Instacart’s main focus is grocery delivery. The demand for delivery services only soared during the pandemic when people were stuck at home and worried about going out in public. Though Instacart and DoorDash were successful at a time when most companies were suffering, they still weren’t in a position to afford to offer all of their drivers benefits (like paid sick leave and unemployment protection) that companies typically provide employees. If Proposition 22 hadn't passed, it would have put a damper on Instacart's and DoorDash’s plans to go public in the coming months. Both companies had been contemplating 2020 IPOs, and with less than two months left in the year, those plans could be shifted to 2021. Only time will tell. It now appears that both companies are more optimistic about the future of their businesses and have been attracting new investors. If Proposition 22 hadn't passed, these companies would most likely have to reconsider going public since they'd need to adjust their business models to treat their drivers as employees rather than contractors. DoorDash CEO Tony Xu had this to say about the passage of Proposition 22: Californians sided with drivers, recognizing the importance of flexible work and the critical need to extend new benefits and protection to drivers like Dashers. We look forward to partnering with workers, policymakers, community groups, and more to make this a reality. More Restrictions Are Killing This Industry Sports are just not the same since their “return” with COVID-19 restrictions. Ratings are down across the board. Even LeBron James couldn’t rescue the NBA’s pathetic ratings this year. But this downfall has led investors to another opportunity. This year, the League of Legends World Championships took place between September 25 and October 31 and had 3.88 million viewers. It wasn’t even aired on television/cable — these viewers were only streaming online. While ratings for major sports, such as the NBA, NFL, and MLB, struggle to maintain average viewing numbers, eSports are more popular than ever and that trend shows no signs of slowing down. In fact, by next year, United States eSports viewership is projected to grow to 84 million, making it the second-most-watched sport behind football. And that’s not taking into account the global viewership for eSports, which is projected to grow to 646 million by 2023 according to Newzoo. That’s more people watching eSports than streaming shows online (among Hulu, HBO, Netflix, and ESPN COMBINED). Here’s the best part... Unlike traditional sports, you can directly invest in eSports companies. The eSports industry has the potential to be one of the biggest trends of 2020 and beyond. In 2014, when ESPN President John Skipper was asked if eSports were real sports, he callously answered, “No.” Fast-forward six years... ESPN now covers eSports daily on its website and various television segments. That’s why I’m urging you to check out this opportunity before the fat cats on Wall Street catch on. [Click here to see which companies you should buy now...]( DoorDash recently partnered with a Bay Area restaurant brand to open up a brick-and-mortar store called Burma Bites. Burma Bites’ parent company, Burma Superstar, has been a DoorDash partner for over two years. Burma Bites and DoorDash have teamed up to create a restaurant that’s solely based on delivery and pickup orders. With fewer people dining in because of the pandemic, having a restaurant designed for delivery and pickup orders only is an innovative idea. Even after the pandemic, I’m sure there will be a lot of people who still choose this method of dining. In a statement about the new store, Georgie Thomas, DoorDash’s head of regional merchant partnerships, said this: Empowering restaurants with the tools to connect with more customers and build new revenue streams is in our DNA, and we’re taking our mission one step further by creating a to-go restaurant concept from scratch for one restaurant brand. With some uncertainties behind DoorDash and new ways of growing its businesses, a December IPO or one in early 2021 is now a possibility for the company. According to Bloomberg, DoorDash was valued at around $16 billion in June when it reported it raised $400 million in funding from private investors. However, the company hasn’t made any official IPO plans. It still needs to file its paperwork with the SEC, but I wouldn’t be surprised if it does that very soon. If you’re interested in DoorDash’s IPO and other IPO news and research, then [click here.]( Until next time, [Monica Savaglia Signature Park Avenue Digest] Monica Savaglia Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter [IPO Authority](, a one-stop resource for everything IPO. She also contributes regularly to the [Wealth Daily]( e-letter. To learn more about Monica, [click here](. You Have Less Than ONE MONTH To Lock in the Greatest Investment of Your LIFE Folks, believing that something is truly “the greatest investment of your life” would normally take a lot of effort. I mean, that’s a huge claim; it would be a really hard sell. Just think about it. We’ve all lived through the dawn of the tech stocks, of social media, of frickin’ AMAZON.But I’m telling you, I’ve looked at all those stocks. Hell, I’ve recommended some of those stocks. And without a doubt, this new company I’ve discovered could blow them all away. I’m talking life-changing, science-rewriting, fortune-making incredible. I’ve spent years painstakingly analyzing the science behind it because folks, it looks too good to be true. But it’s NOT. This company truly has discovered the fountain of youth. [Click here to get all the details.]( Enjoy reading this article? [Click here]( to like it and receive similar articles to read! Browse Our Archives [Vaccine: Coincidence? You Tell Me...]( [How to Invest in Companies BEFORE They Go Public]( [Another COVID Victim: Google's Smart City in Toronto]( [Election Uncertainty, Confusing Markets, and Six Stocks to Keep You Grounded]( [Election Day 2020]( --------------------------------------------------------------- This email was sent to {EMAIL}. It is not our intention to send email to anyone who doesn't want it. 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