Daily Crunch - DoorDash IPO filing revealed

DoorDash reveals its finances as it prepares to go public, TikTok’s future remains unclear and Nintendo had a good month for sales. This is your Daily Crunch for November 13, 2020.

The big story: DoorDash IPO filing revealed

DoorDash filed confidentially for an IPO earlier this year, and now it has revealed its S-1 filing to the public.

The food delivery company has been growing quickly, from $291 million in revenue in 2018, to $885 million in 2019 and 226% growth so far this year. At the same time, it’s moving closer to profitability, with an operating loss of $131 million in the first nine months of 2020, compared to a loss of $479 million in the same period last year.

After looking at the numbers, Alex Wilhelm concludes, “The company is bigger, growing more quickly and losing less money than I expected.”

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The tech giants

Nintendo’s Switch dominates US console sales ahead of PlayStation/Xbox launches — Another banner month for Nintendo hardware sales, per the latest figures from NPD.

The US government sends mixed messages about TikTok’s future — The U.S. Justice and Commerce Departments sent conflicting messages today about TikTok.

Twitter labeled 300,000 US election tweets, around 0.2% — Just over a week after the U.S. elections, Twitter has offered a breakdown of some of its efforts to label misleading tweets.

Startups, funding and venture capital

Getaround tops up $25M debt financing to its $140M Series E — It seems that the peer-to-peer car rental startup is looking for new ways to secure cash without further diluting executives or investors.

Filing: Online learning marketplace Udemy is raising up to $100M at a $3.32B valuation — Based on the filing, it’s not clear if the round has closed, and whether the full amount was raised.

Kyklo raises $8.5M to bring electrical distributors online — Apparently the process of selling electrical and automation products to manufacturers remains cumbersome, relying largely on PDF catalogs.

Advice and analysis from Extra Crunch

The VC and founder winners of DoorDash’s IPO — More on DoorDash, particularly who owns how much of the company.

Which emerging technologies are enterprise companies getting serious about in 2020? — It’s not helpful for startups to talk about technology shifts to large company executives who just don’t see them as a priority yet.

Fintech VC keeps getting later, larger and more expensive — For smaller players, is the shift toward bigger, more mature rounds undercutting their ability to attract capital and reach scale?

(Reminder: Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Microsoft says hackers backed by Russia and North Korea targeted COVID-19 vaccine makers — Microsoft said that the attacks targeted seven companies in the U.S., Canada, France, India and South Korea.

Demon’s Souls: The first truly next-gen game is a lopsided but impressive showcase — Devin Coldewey writes that this remake of a PS3 game really does hold up.

• SENIOR INFORMATION SYSTEMS TECHNICIAN at Valley Water (San Jose, CA, USA)
• SENIOR INFORMATION SYSTEMS TECHNICIAN (Senior Cyber Security Technician) at Valley Water (San Jose, CA, USA)
• Senior Software Developer, Research at Educational Testing Service (Princeton, NJ, USA)
• Engineering Manager (Frontend) at Axios (Arlington, VA, USA)
• Director of Engineering at Axios (Arlington, VA, USA)

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