Key points from DoorDash, Airbnb, Roblox, Wish, Affirm S-1 filings

A DoorDash Inc. delivery person places an order into an insulated bag at Chef Geoff’s restaurant in Washington, D.C.

Andrew Harrer | Bloomberg | Getty Images

Tech investors have plenty of reading to do over the Thanksgiving holiday in the form of IPO filings. DoorDash, Airbnb, Affirm, Roblox and Wish all unveiled their prospectuses in the past eight days, with plans to go public before year-end.

They’re taking advantage of a post-election rally that’s lifted U.S. stock indexes near record highs and a clear demand in the public market for high-growth investments.

All five companies serve consumers and can expect a busy holiday season in the face of surging coronavirus cases and a drastically altered economy. It’s a very different slate of entrants to the market than the previous rush in September, when a number of enterprise software companies like Snowflake and Palantir made their debuts.

They each have distinct narratives tied to the coronavirus.

DoorDash revenue more than tripled in the third quarter as many restaurants turned to delivery as their primary source of business. Kids gaming platform Roblox reported 91% revenue growth in the most recent quarter (measured vs. last year), as it benefitted from school closures and more users looking for ways to stay entertained away from their friends.

Affirm, which offers point-of-sale online loans for consumers buying apparel, electronics, home goods and other items, almost doubled revenue in the latest quarter as people increasingly turned to the internet for their purchases. Wish, an online discount retail marketplace, is also benefiting from the ecommerce boom. But its third-quarter growth was more muted at 33%, in part because most of its merchants are based in China and are still dealing with supply chain challenges.

Airbnb is the company most hurt by the pandemic, which has flattened the travel economy. But it’s found a niche in combining vacation homes with remote work and is positioning itself for an economic rebound.

Here’s what we learned from each company’s S-1 filing, listed in the order of when they were filed:

DoorDash

Tony Xu, co-founder and chief executive officer of DoorDash Inc., smiles during the Wall Street Journal Tech Live conference in Laguna Beach, California, U.S., on Tuesday, Oct. 22, 2019.

Martina Albertazzi | Bloomberg | Getty Images

Airbnb

Affirm

Max Levchin, co-founder of PayPal and Affirm

Contributor | Bloomberg | Getty Images

Roblox

A rendering of the hit Roblox video game “Jailbreak.”

Source: Roblox

Wish

Source