$1.9B Revenue, $149 million Lost, Value: $60 Billion

Door Dash IPO’d today. It’s up 75% as a write this, which puts its Market Cap at … $60 billion. That sounds good… except Door Dash – during the best time for it – lost $149 million so far this year on $1.9 billion. That’s 30 times sales.

I guess maybe this makes sense…. but it feels a lot like it doesn’t.