On Thursday, the same day US stocks fell into correction territory , Doordash announced it had submitted confidential paperwork with the US Securities and Exchange Commission to go public.

This week, competitor Uber Eats named a new leader as the company works to grow its meal Delivery service without bleeding as much money.

DoorDash, which acquired premium restaurant delivery service Caviar in August , has emerged as the US leader in terms of sales.

Among its investors is SoftBank , the Japanese conglomerate that has faced scrutiny as of late after one of its most high-profile investments, WeWork, failed to pull off an IPO last year.

Along with other food and gig economy startups, it is facing a number of regulatory battles in markets such as New York City and the state of California.

The policy, which has since been changed , is the subject of a lawsuit brought by DC Attorney General Karl Racine in November that seeks to recover the "millions of dollars in tips that were used to subsidize DoorDash's payments to Dashers," and impose civil penalties.