I don't know the policy on secondaries. But yeah, founders are almost always common stockholders in my experience, and they certainly don't want a preference overhang.

And to be clear wrt my original comment, I think DoorDash is an excellent business, and I have no reason to believe that the valuation isn't fully justified, I'm just speaking more generally about the funding environment of companies doing large rounds at high valuations, and if a macro trend pushes startup valuations in the other direction.

I believe founders have preferred shares, and employees have common shares.

Edit: Above can be disregarded, see below replies, I misremembered my options paperwork.