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.
Source Fool.com
