DoorDash prices IPO at $102 per share, will raise $3.4 billion

• DoorDash priced its shares at $102 apiece on Tuesday ahead of its IPO, CNBC's Leslie Picker reported. That comes in well above the expected range.
• The offering is expected to raise $3.4 billion, and it gives the food-delivery company a valuation of $32.4 billion.
• DoorDash lifted its pricing range on Friday to $90 to $95, from $75 to $85. Its new pricing sets the company up to be one of the year's biggest debuts.
• DoorDash is set to trade on the New York Stock Exchange under the ticker "DASH."
• Visit the Business Insider homepage for more stories.

DoorDash priced its shares at $102 each on Tuesday ahead of its highly anticipated initial public offering, CNBC's Leslie Picker reported. The final pricing comes in well above the expected range.

That pricing will allow the company to raise $3.4 billion when it begins trading on Wednesday, according to a regulatory filing. It also gives the firm a $34.2 billion valuation, based on common stock outstanding, and $38.7 billion on a fully-diluted basis. It will mark one of the year's largest market debuts.

The pricing brings DoorDash well above the roughly $15 billion private valuation it achieved earlier in 2020, which was already a major increase from the $1.4 billion it was worth in 2018.

DoorDash is poised to become the highest-valued food-delivery company when it debuts on the New York Stock Exchange. The company is set to trade under the ticker "DASH."

Read more: Goldman Sachs says buy these 25 stocks it expects to pay big dividends that will keep growing over the next decade

DoorDash lifted its IPO price range on Friday to $90 to $95, from $75 and $85 per share. Its latest target sets it up to be among the year's five largest offerings.

IPOs from DoorDash, Airbnb, Wish-parent ContextLogic, and others are set to drive the busiest December on record for public offerings. US listings have already raised a record $156 billion in 2020, according to Bloomberg data, partially fueled by the year's blank-check frenzy.

Goldman Sachs and JPMorgan will serve as the offering's lead underwriters.

Now read more markets coverage from Markets Insider and Business Insider:

Market wizard Chris Camillo grew his trading account by $9.7 million in 2020. Here's the simple strategy he's using to mint millions.

The most effective stimulus bill will boost unemployment benefits and PPP in order to drive economic growth, JPMorgan says

One gauge of stock-market valuation has reached its highest point since the dot-com bubble - and exceeds levels seen before the 1929 crash