Editor’s note: Receive this complimentary weekly summary of TechCrunch news relevant to all startups via email each Saturday morning (7 a.m. PT). Sign up here.

DoorDash has established itself as the preferred delivery service for a large number of individuals staying home during the current pandemic. The company has now submitted its S-1 filing, disclosing its financial data as it approaches a planned initial public offering. This information reveals a promising business – and provides a broader perspective on the performance of technology companies overall this year.

When the company initially filed for its public offering in February, it had just concluded a period of substantial growth in 2019. Simultaneously, the California state legislature was enacting legislation specifically aimed at its gig-economy employment structure. Then the pandemic began. Further insights from Alex Wilhelm:

Another positive development for the company occurred last week. A California ballot measure was approved, safeguarding the independent contractor model upon which it depends for its delivery services.

However, global events continued to unfold. A COVID-19 vaccine emerged this week, potentially leading to the end of the pandemic as early as next year. Could this negatively impact DoorDash’s business? Alex re-examined the data for Extra Crunch and did not arrive at a definitive conclusion. The company has been consistently investing in the technology powering its delivery platform, which has contributed to its success this year. Nevertheless, the S-1 document acknowledges that profitability will likely decrease once the pandemic subsides. Alex:

For those considering a long-term investment in DoorDash stock, the key question is how you anticipate the pandemic will reshape the world, or if it will at all. Will demand for DoorDash deliveries remain elevated? Will people continue to spend as much time at home? Or will we return to pre-pandemic routines of working in offices, shopping in stores, and dining in restaurants?

Regarding investors, Danny Crichton explains the benefits of investing in companies that anticipate change. The company has secured approximately $2.5 billion in funding over the years. Currently, Sequoia holds an 18.2% ownership stake, the SoftBank Vision Fund owns 22.1%, and Singapore’s GIC has a 9.3% share. As he details for Extra Crunch, the founders Tony Xu, Andy Fang, and Stanley Tang each control roughly 5% – relatively modest portions of an expanding company. Is this level of equity dilution excessive? Or, given the numerous delivery companies that have failed or struggled, does this represent the height of achievement in this industry?

The Vaccine

It was widely anticipated that effective responses would eventually be developed. However, with the increase in COVID-19 infections during this period, and heightened concerns surrounding the elections, the prospect of the vaccine becoming available so soon seemed improbable. The encouraging results announced on Monday by BioNTech and Pfizer suggest that these firms are nearing a significant achievement. Numerous other organizations are also pursuing similar, innovative vaccines utilizing gene-based technology, indicating that further positive outcomes may be forthcoming.

The financial markets are already adjusting valuations of technology companies, regardless. In addition to the recent initial public offering filing by DoorDash, here are some further reports detailing the effects of this development:

Favorable vaccine reports negatively impact companies that benefited from the pandemic, such as Zoom, Peloton, and Etsy.

What is the potential outcome for rapidly growing startups if the market trends associated with the pandemic reverse? (EC)

With investors reassessing their investments in educational technology, what does the future hold for this thriving startup industry? (EC)

Five venture capitalists share their perspectives on the future of Software-as-a-Service and software following Pfizer’s vaccine advancement. (EC)

Tencent’s financial technology division rivals Ant Group in scale

Recent developments concerning regulatory challenges and the technology sector have prompted Rita Liao to examine the substantial fintech operations of Tencent, determining that “greater caution regarding compliance with regulations will be necessary.”

The following details provide context for those seeking to comprehend this international corporation and its position within various markets:

The intersection of educational technology and game development

Experienced entrepreneur Darshan Somashekar proposes that creating a successful edtech offering might involve designing it as a game. He shares further insights in his recent article for Extra Crunch:

Regarding TechCrunch

Companies leading the way in orbital refueling and the creation of products in space will be featured at TC Sessions: Space 2020.

Kathryn Lueders, who manages human spaceflight programs at NASA, will participate in TC Sessions: Space.

Secure rapid funding for your aerospace venture at TC Sessions Space this December.

Across the week

TechCrunch

This company believes there’s a strong demand for consuming a lot of content related to remote work.

Venture capitalists located in Dublin are invited to participate in The Great TechCrunch Survey of European VC firms.

Human Capital explores the gig economy and its future following the passage of Proposition 22.

The social network Parler, which emphasizes free expression, reached the top of app store charts after the recent presidential election.

Nearly 90% of the world’s new power capacity installed in 2020 came from renewable energy sources.

Extra Crunch

The latest financial reports from Square and PayPal offer both positive and negative insights for fintech companies.

This article shares valuable lessons about venture capital from the perspective of an experienced founder.

Discrepancies within California’s laws regarding trade secrets and customer lists are causing confusion.

This piece details insights gained from seven months of widespread remote work arrangements.

Dear Sophie addresses the potential impact of the recent election results on technology-related immigration policies.

#EquityPod

From Alex:

Greetings and welcome to another episode of Equity, TechCrunch’s podcast dedicated to venture capital – now also available on Twitter! We delve into the figures that underpin the latest news stories.

The entire Equity team convened to discuss the present state of the venture capital landscape, considering whether current conditions favor risk-taking or a more cautious approach. Danny, Natasha, and I structured our discussion around several key news developments from the week, including:

• The launch of Wrkfrce prompted us to explore the future of specialized media outlets, referencing The Juggernaut’s recent funding round and the restructuring at Quartz.
• Regarding media investments – a consistently challenging area for venture capital – Spotify has acquired another podcasting company, Megaphone, for $235 million. We believe a series of smaller acquisitions is unlikely to inspire VCs to accept greater risk within this sector, a sentiment echoed by Hunter Walk here.
• Shifting to a broader view of risk, I asked Natasha to analyze the early stages of the venture market and Danny to examine its later stages. While substantial capital remains available, it seems increasingly directed toward established leaders rather than providing support for less-proven startups.
• Despite this, the market isn’t exhibiting signs of slowing down, as demonstrated by the news surrounding Spearhead, which revealed a new strategy focused on investing in emerging fund managers.
• Furthermore, there continues to be a willingness to invest in remote-work solutions, exemplified by Hopin’s recent $125 million raise at a valuation exceeding $2 billion. We have mixed feelings about this round, but Danny, a former VC, views it favorably.
• We concluded by discussing forthcoming IPOs and the latest financial results from SoftBank. Companies like DoorDash and Airbnb need to proceed with their IPOs soon if they intend to do so this year, but as of now, those plans remain unrealized.

It was a particularly active week, even considering the time of the month. We anticipate a similar pace next week.

Lastly, please remember that our colleague Chris Gates is creating Equity video clips from each episode, which you can find on YouTube. He produces excellent content, and it’s wonderful to be available on both video and audio platforms.

Equity is released every Monday at 7:00 a.m. PDT and on Thursday afternoons as quickly as possible. Subscribe to us on Apple Podcasts, Overcast, Spotify, and other podcasting services.