The leading food delivery app, DoorDash, has started trading its shares on the New York Stock Exchange on Wednesday. It’s shares skyrocketed in value in less than 24 hours of entering the market.

The stock began trading at $182 a share. It closed up at $189.51, well above the $102 per share of DoorDash IPO price. This is an excellent development for DoorDash.

With employee-owned shares, the company is now worth $72 billion. That is the market capitalization of Domino’s Pizza and Chipotle Mexican Grill combined.

DoorDash will be joining its competitors now, GrubHub and Uber, at a critical time for the food delivery industry. The stay-at-home orders during the COVID-19 pandemic have helped food delivery brands. DoorDash reported $1.9 billion in revenue and a net loss of $149 million in the nine months ending September 30.

Ahead of the IPO, DoorDash has also received many levels of scrutiny. A recent example is when the District of Columbia attorney general called the company out for misleading customers on how tips are allocated to drivers. Which it later won, after a $2.5 million settlement.

New Constructs’, a research firm, CEO, David Trainer, has criticized DoorDash’s IPO. He called it’s no more or less different from WeWork’s attempted IPO, which he called “The Most Ridiculous IPO of 2019”.

According to CNBC, The DC Council has recently passed a law that would cap all third-party service providers like DoorDash 15% fee anytime an order is made.

But all these took another turn on Wednesday when DoorDash raised $3.4 billion from shares, making it one of the largest IPOs of the year.

Airbnb, the popular peer-to-peer lodging service, skyrocketed 112% in the public market debut on Thursday, giving it a market cap of $86.5 billion.

These are the two highly-anticipated IPOs of the year for brands associated with the gig economy.