THE IPO TWINS: DOORDASH AND AIRBNB starting to look attractive at these levels - who ya got? DoorDash and Airbnb went public the same week last December, putting them on a similar corporate calendar. They both reported first-quarter numbers today and both reported better-than-expected results. That’s surprising given that they should be on opposite sides of the post-Covid recovery. DoorDash had a staggeringly strong growth last year, as Covid lockdowns made it a must-have service, while Airbnb had the opposite experience. As Covid winds down in parts of the world, including the U.S., you would think those performances would reverse. Instead, both companies seem to be doing just fine. DoorDash posted growth of 198%, nearly as fast as for all of last year. Meanwhile, it generated $112 million in cash, a big turnaround from the $100 million it burned in the fourth quarter, suggesting it is becoming more efficient. Airbnb managed to increase revenue 5% to $886.9 million, a striking turnaround from the 22% drop in the fourth quarter. It shows how much the vaccine rollout in wealthy nations has helped spur a recovery in travel. Almost as stunning was that Airbnb generated just under $490 million in cash, compared to burning $147 million in the fourth quarter of last year.