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Marker

DoorDash Has Already Peaked

Its valuation doubled and then doubled again in an IPO bonanza. But is it just a well-timed flash in the pan?

Photo: Michael M. Santiago/Getty Images

In mid-2019, a private funding round valued DoorDash, the restaurant delivery service, at $12.7 billion. In early March 2020, with rumors that the company might go public, the New York Times noted Wall Street skepticism about that…

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