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DoorDash said in its announcement that the number of shares on offer and a target price range for the transaction “have not yet been determined.”

The brief statement also adds that the IPO “is expected to take place after the SEC completes its review process, subject to market and other conditions.” In recent days, the U.S. stock market has experienced significant downward pressure amid concerns about the spreading SARS-CoV-2 virus and speculation about the scale of its impact on the global economy.

As of 2017, the SEC has granted smaller, high-growth companies a path to initially file their S-1 registration statements confidently, allowing for regulatory review without immediate exposure to scrutiny from the media and would-be public market investors. Confidentially filed S-1 documents are made public prior to IPO.

According to Crunchbase data, San Francisco-based DoorDash has raised in equity funding since its inception in 2013. Its last private market valuation was approximately $12.6 billion, post-money, earned in .

The include the likes of , , , , , the Singaporean sovereign wealth fund , and the .

DoorDash has never released a complete picture of its financials, which will be part of the IPO process. The company is not profitable and was expected to lose $450 million on revenue of between $900 million and $1 billion in 2019, according to from .

The company faces a number of labor disputes, as its “gig economy” workers are treated as independent contractors and are not eligible to receive benefits like health insurance. Earlier in February DoorDash was as it works through individual cases brought by 5,010 drivers for the platform who believed the company was in violation of California labor law.

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The comes as the company closes a $1.75 billion credit line from and soon after WeWork appointed a new CEO, real estate executive Sandeep Mathrani.

As part of the 5-year plan, the company said it expects to post its first-ever quarter with $1 billion in revenue this year. In 2021, it’s aiming to be adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) positive, and in 2022 WeWork’s goal is to be free cash flow positive.

Put simply, free cash flow means a company is “generating more cash than is used to run the business and reinvest to grow the business,” according to .

When WeWork filed its S-1 document with the , it was clear the company was burning cash. You can read more about the state of WeWork’s finances when it filed to go public here. But the summary of its cash situation is that its operations were consuming a lot of cash ($198.7 million in H1 2019), and the company’s investing cash was even more negative ($2.36 billion in H1 2019).

Looking ahead, WeWork is also aiming for 1 million memberships in 2023, and having $1 billion of free cash flow in 2024. The company had more than 662,000 total memberships by the end of last year.

WeWork attempted to go public last fall but had to scrap its IPO after concerns came up about the company’s finances and corporate governance. Since then, its valuation plummeted, former CEO Adam Neumann stepped down (and was reportedly being paid well to do so, though the company’s chairman told Monday that the billion-dollar figure wasn’t true), and took control of the company.

It laid out a turnaround strategy, which included divesting acquired companies that weren’t part of WeWork’s “core business.”

WeWork had 739 locations as of the end of last year, in 140 cities and 37 countries, according to the company.

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