Home / Tech News / 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 for the reason that firm introduced a $535 million round.

Why elevate more cash 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 may assist the corporate broaden 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 stated it’s had a great 2018, with deliveries growing 250 % 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 30 days to get limitless free deliveries.

“As we develop, we are going to keep true to our values and our mission of connecting folks with risk  —  and, belief us, we’re simply getting began,” DoorDash wrote.

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About Alejandro Bonaparte

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