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DoorDash Raises $400 Million, Now Valued at $7.1B

by Chris Albrecht
February 22, 2019Filed under:
  • Delivery & Commerce
  • Funding
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DoorDash announced yesterday that it has raised $400 million in Series F funding, giving the delivery startup a $7.1 billion valuation. Temasek Holdings and Dragoneer Investment Group co-led the round, which brings the total amount raised by DoorDash to $1.4 billion.

The actual dollar amount raised was less than the $500 million that The Wall Street Journal had reported last week. But what’s $100 million among food delivery startups, which have been raking in the investments. Instacart has raised $1.9 billion while Postmates raised $678 million and has filed to go public.

My colleague, Jenn Marston, provided some context about DoorDash’s fundraise last week, when reports first surfaced, writing:

I expect 2019 to be a year of one company trying to unseat another repeatedly over the next several months as they expand into new territories and test out new technologies that might give them more dominance in the market. (Cue obligatory Game of Thrones metaphor.)

DoorDash is certainly on board with adopting new technologies, and the new funding could very well help the company further develop things like its self-driving car initiative or even something like drone deployment (something Uber has reportedly been dabbling in.) DoorDash last year posted a job listing for someone to help build “10x ideas from the ground up e.g. robotics, drones, next-gen dispatch, ML-chatbots, strategic partnerships, etc.” So drones likely are a part of the future, for DoorDash and probably every other delivery service mentioned in this post.

DoorDash recently became the first third-party delivery service to operate in all 50 states, and the company says its services are now available in 3,300 cities.


Related

Report: DoorDash Raised $400 Million Amid Surge in Demand and Costs

DoorDash has raised $400 million in new funding, giving the third-party delivery service a $16 billion post-money valuation, according to a report in Axios' Pro Rata newsletter. This latest round was led by Durable Capital Partners, with participation from Fidelity and existing investor T. Rowe Price. Today's Axios story follows…

O-M-Series G! DoorDash Raises Another $600 Million

Maybe DoorDash should change its name to MoreCash, because the food delivery company announced today that it has raised another $600 million in funding. This brings the total amount raised by DoorDash to $2 billion. This Series G round brought in new investors Darsana Capital Partners and Sands Capital, which…

Postmates Files to Go Public

Delivery service Postmates has confidentially filed for an initial public offering (IPO). Bloomberg broke the news this morning, followed by an announcement from the company. Postmates is the first of the major national delivery services to test the public market, beating out rivals like Instacart and DoorDash. All three services have…

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