Investing
DoorDash Trio Worth Up to $2.8 Billion Each as IPO Soars
- Founders Fang, Xu and Tang own stakes in delivery business
- DoorDash is worth more than $71 billion at closing price
This article is for subscribers only.
Stanford University students Tony Xu, Andy Fang and Stanley Tang had a revelation seven years ago in a Palo Alto macaroon store.
The shop’s owner showed them pages and pages of delivery orders she hadn’t been able to fulfill. Demand wasn’t high enough to hire a full-time delivery person, but there was no way she could drop off all the orders herself. It was a story the three heard again and again as they worked to understand how they could leverage technology to help small businesses.