$40bn valuation for $1bn in revenue & neutral profits. Growing about 40% per year. Obviously there is risk here, so the investment targets needs to account for

$40bn valuation for $1bn in revenue & neutral profits. Growing about 40% per year. Obviously there is risk here, so the investment targets needs to account for it. It's a physical, price sensitive business, so profit margins won't be like FAANG-like. So, in order to be successful (to IPO investors), doordash needs another 25X growth in 5 years... ish. I'm probably missing something. (sheesh, asset prices are super-high atm... moving on) Strategically, there's definitely something to delivery. It's prone to natural oligopolies. Delivery is also, at this point, the critical infrastructure retail generally... not just food. Same day delivery is a game changer for ecommerce, so owning that network does actually have the kind of potential needed for this kind of growth. That said... the big worry is getting stuck with a similar issue to uber. The market may not bear many doordashes, but it will bear a few. Local competitors can play. Doordash might have their margins squeezed. It's certainly not a guaranteed success.