Home / Mobile / DoorDash raises another $250M, nearly triples valuation to $4B

DoorDash raises another $250M, nearly triples valuation to $4B


Meals supply startup DoorDash introduced this afternoon that it has raised $250 million, simply 5 months because the firm introduced a $535 million round.

Why elevate extra money so quickly? CEO Tony Xu told Axios that he wasn’t actively searching for extra funding, however was open to investor curiosity as a result of it might assist the corporate develop extra rapidly. (Perhaps he’ll have extra to say about these plans at Disrupt SF subsequent month.)

The brand new funding was led by Coatue Administration and DST World. It sounds just like the phrases have been fairly interesting too, with the valuation rising from $1.four billion to $four billion.

In a blog post, the corporate mentioned it’s had an excellent 2018, with deliveries rising 250 p.c year-over-year, restaurant chains like Chipotle and IHOP signing up and final week’s launch of the DashPass subscription service, the place you’ll be able to pay $9.99 per thirty days to get limitless free deliveries.

“As we develop, we’ll keep true to our values and our mission of connecting individuals with chance  —  and, belief us, we’re simply getting began,” DoorDash wrote.



Source link

About Alejandro Bonaparte

Check Also

Facebook relaunches search ads to offset slowing revenue

It’s an advert duopoly battle. Fb is beginning to check search advertisements in its search ...

Leave a Reply

Your email address will not be published. Required fields are marked *