The San Francisco-based food-delivery company’s stock is expected to debut by the end of its 2019 third quarter. The filing was made confidentially to the U.S. Securities and Exchange Commission in February. (TechCrunch)
Talking point: Postmates is up against fierce competition in the U.S. from well-funded major players Grubhub and Uber Eats, which, together, had about a 72 per cent share of the U.S. food-delivery market as of April 2018. DoorDash itself has seen a significant injection of cash, with a US$535-million investment from SoftBank’s Vision Fund in March 2018. A month later, in April, it was reported that Postmates held unsuccessful merger talks with DoorDash; at the time, the two companies would have had a combined U.S. market share of about 23 per cent (alone, Postmates’ was 9.1 per cent). Meanwhile, Postmates is dipping its toes into other markets: in June, The Logic reported that the company had quietly set up its first Canadian office and hired a number of staff in both Vancouver and Toronto.