DDL - SoftBank-Backed Dingdong Just Went Public. Here's What You Should Know
Dingdong (Cayman) (NYSE: DDL) , a leading Chinese on-demand e-commerce company, went public on June 29, 2021. For those who are new to the company, Dingdong resembles a Chinese version of Instacart where you can order groceries online and get them delivered to your home.
Backed by leading investors such as Tiger Global and SoftBank , Dingdong priced its shares at $23.50 per American depositary shares (ADS), raising a total of $110 million from the IPO .
Its stock rose to a high of $46 per share on the first day, giving back most of the gain before the closing bell rang.It is now trading close to its IPO price again, giving investors a second chance to buy into the stock. But before you buy in, let's run through Dingdong's business model, growth prospects, and risks.
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SoftBank-Backed Dingdong Just Went Public. Here's What You Should Know