DoorDash Plans $2 Billion Offering of Convertible Senior Notes

SAN FRANCISCO, May 27, 2025 — DoorDash, Inc. announced plans to offer $2 billion in convertible senior notes due 2030 as part of its strategy to enhance financial flexibility. The company intends to conduct this offering privately to qualified institutional buyers under Rule 144A of the U.S. Securities Act.

The funds raised from this offering will partly be used for entering into hedge transactions related to the notes, with the remainder allocated for general corporate purposes including possible acquisitions and stock repurchases. DoorDash noted the offering is subject to market conditions.

This announcement follows DoorDash’s recent agreement to acquire SevenRooms, which is expected to strengthen its local commerce platform capabilities. Thomas Xu, DoorDash’s vice president of strategy and operations, expressed enthusiasm about providing local businesses with enhanced tools for customer engagement and profitability.

The company also highlighted the acquisition of Deliveroo, which enhances its presence in over 30 countries, servicing millions of users globally. Xu emphasized that the deal aims to offer better resources to local businesses across extensive markets.

DoorDash’s latest earnings report indicated record metrics in orders and revenue, which supports its ongoing efforts to expand product offerings and improve execution.

The convertible senior notes are set to mature on May 15, 2030, with interest payable semi-annually. Prior to November 15, 2029, conversion of the notes is contingent upon meeting specific conditions.

DoorDash also stated that it plans to engage in derivatives and other financial transactions related to managing potential dilution from the notes. The final terms of the notes will be confirmed during the pricing of the offering.

This significant move, announced during a period of rapid expansion and acquisitions, signals DoorDash’s commitment to long-term strategic growth and market adaptability.