DoorDash has priced its shares at $102 apiece heading into its stock market debut Wednesday, valuing the 7-year-old food delivery company at nearly $39.The price was higher than the company's most recent target price of $90 to $95 a share, reflecting investor enthusiasm for the initial public offering.The San Francisco-based company raised $3.4 billion in its offering.
Starting Wednesday morning, DoorDash will trade on the New York Stock Exchange under the symbol DASH.DoorDash was founded in 2013, when CEO Tony Xu and some classmates at Stanford University set up a website and posted local menus.
Customers have placed more than 900 million orders since then. It now offers delivery from 390,000 merchants in the U.S., Canada and Australia..