In its filing, the SoftBank-backed food-delivery service did not say how many shares it would potentially sell, its price range for the offering or the timing of its next steps. (The Wall Street Journal)

Talking point: DoorDash’s disclosure comes after reports the company explored a merger with rival Uber last year. SoftBank, which invested heavily in both companies through its Vision Fund, encouraged the merger discussions. A successful IPO for DoorDash would be an important win for SoftBank, which has reportedly backed off of some of its heavy spending in the months since WeWork’s failed IPO attempt. The company is one of the fund’s stars, having raised US$100 million in its most recent funding round, valuing it at almost US$13 billion, DoorDash, which expects to report a US$450 million loss in 2019, has captured a third of all food delivery sales in the U.S,. It’s overtaken rivals Grubhub, fellow SoftBank portfolio firm Uber Eats, and Postmates, which privately filed for an IPO in 2019, but then chose not to go public after dismal offerings by Uber and Lyft.