DoorDash delivers a spectacular IPO
DoorDash, which Annie Kadavy backed while a general partner at CRV, delivers a spectacular IPO. The food delivery company raised $3.37 billion by pricing 33 million shares at $102. Listed on the NYSE under the symbol DASH, DoorDash ended its first day of trading at $189.51, giving it a valuation of $60.2 billion. The company raised $2.5 billion prior to the offering and was most recently valued $16 billion.
CRV’s stake in the company was not listed in the filings. SoftBank Vision Fund was the biggest shareholder prior to the offering with a 24.9 percent pre-IPO stake. Sequoia Capital held 20.4 percent and GIC owned 10.5 percent.
Annie backed the company in 2013. She remained with CRV until late 2016 and then joined Uber Freight as head of strategic operations. In the spring of 2018, she became a managing director at Redpoint Ventures.
Annie earlier this year backed Silk + Sonder, a women’s self-care company founded and led by Meha Agrawal. Her portfolio also includes Bravado, Inc., which is focused on elevating the profession of sales by building trust, community and diversity; Tundra, a wholesale marketplace co-founded by husband-and-wife Arnold and Katie Engel; Tend, a dental wellness company; Ike, a builder of self-driving technology for semi-trucks that was co-founded by Nancy Sun; and Guild Education, whose co-founder and CEO is Rachel Carlson.