A Door Dash delivery staffer drops off an order
DoorDash has previously raised over $186 million across four funding rounds - an angel round led by Khosla Ventures in September 2013 ($2.4 million), a Series A led by Sequoia Capital in May 2014 ($17.3 million), a Series B led by Kleiner Perkins Caufield & Byers in May 2015 ($40 million), and a Series C led by Sequoia again in March 2016 ($127 million).
DoorDash CEO Tony Xu told CNBC that the new capital will enable the company to work with more restaurants, invest in technology that lets restaurants integrate the DoorDash technology on their own websites and mobile apps, and expand geographically from 600 to 1,600 cities in the USA and Canada this year.
The deal is another example of how SoftBank is equipping companies with warchests that they can use to bash, or maybe even acquire, their rivals. DoorDash's most immediate private competitor, Postmates, has raised $278 million over various rounds, most recently at a $600 million valuation. None of the $535 million is buying out existing investors - those "secondary" components are typically a part of SoftBank-led deals. The company now plans to continue to grow DoorDash Drive, the platform that enables a merchant to offer delivery to customers that have placed orders directly with the restaurant. The company operates in a rather crowded logistics services market in the USA, competing with the likes of UberEATS, Tapingo, Postmates, and GrubHub, and even grocery delivery services like Instacart. SoftBank is also represented by other people, not Housenbold, on the Uber board. In a press release about the funding, Tony said, "Our vision for DoorDash is to build the last-mile logistics layer to empower every business to thrive in the digital and convenience economy.Today's investment by the most forward-looking firms in the world accelerates our ability to achieve this vision". Xu said there are over 250,000 so-called dashers on the platform.
In January, Uber acquired a delivery-only restaurant called Ando, and CEO Dara Khosrowshahi said at an event in Munich that Uber will be the "largest food delivery company in the world this year".
Activision Blizzard, Inc. (NasdaqGS:ATVI) Quant Signal & Valuation Review
A month ago, they told us to expect earnings of US$0.51 per share while three months ago their EPS consensus estimate was US$0.51. Activision Blizzard, Inc .is a part of Technology sector and belongs to Multimedia & Graphics Software industry. (NASDAQ: ATVI ).
What's the No. 1 weather worry as powerful storm nears?
Reduced visibility and difficulty traveling will be an issue throughout the Hudson Valley tomorrow, so think before you go out. Rain will continue overnight Thursday , occasionally heavy at times, and continue into Friday .
Most Americans think Trump is racist
It also included 75% of Hispanics who responded to the poll as well as nearly half of the white respondents. Critics - including members of both political parties - have previously accused Trump of being a racist.
"The best investors always invest in winners in a category", he said. Each company has different cities where they are the strongest.
Some veterans urge more consolidation in the industry. In fact, the website adds that SoftBank and GIC were going head to head in a bidding war over DoorDash.
When the company prepared to raise money in the winter, both GIC and SoftBank expressed interest in investing lots of capital. It's already well-known that on-demand delivery companies lose quite a bit of money in the pursuit of growth.
Recommended News
-
02 March 2018Late eagle lifts Louis Oosthuizen to first-round lead in Mexico
Paisley shared second place with Tour Championship victor Xander Schauffele , with Spain's Rafa Cabrera Bello and Thailand's Kiradech Aphibarnrat on five under.
02 March 2018Here's how to watch this Sunday's Oscars
This system works to ensure the victor truly has the most preference - rather than just the most votes - in the academy. Although Gerwig's nomination could be seen as a sign of things to come, it's clearly not a sign of things as they are.
02 March 2018Happy Holi 2018: People get into celebratory mood with festivity of colour
Earlier, district administration offices and police had appealed to all to celebrate Holi in a decent and peaceful manner. The Google Doodle marked the festival of Holi that is being celebrated across India and especially North India on Friday. -
02 March 2018Six Nations Reveal Findings Of Investigation Into Scotland V England Tunnel Scuffle
England and Scotland have been asked for clarification on the incident by Six Nations Rugby. We are aiming to do that, and we've had two years together".Gary Neville made fun of Mohamed Salah and the backlash was hilarious
The Reds trio have scored 43 of Liverpool FC's 65 goals in the Premier League this term to build a formidable partnership. Liverpool now lie third in the Premiere League table with 57points, 15 behind leaders Manchester City.
02 March 2018Competition Committee: 2014 Dez Bryant Play Should Be A Catch
An Outside The Lines report quoted Jones telling Goodell, " I'm going to come after you with everything I have ". Unsurprisingly, the effervescent Cowboys owner will contest paying the $2 million fine . -
02 March 2018'Frozen 2' Screenwriter Says Elsa Might Get a Girlfriend?
Critics are crying out for more representation in the media in regards to race, gender, and sexual orientation. This certainly would not be the first time Disney has hinted at LGBTQIA themes in their projects.
02 March 2018Campus carry bill dies in the WV House of Delegates
Mitch Carmichael, (R) Jackson - Senate President. "Then they said use the money for PEIA, and now they're back to the raise". Senate Bill 942, better known as the Historic Triangle Bill, was passed by the Virginia State Senate on Wednesday.
02 March 2018'Kohli was 'little over the top' in SA'
The Indian Cricket team had a successful South African tour, where they won the ODI series 5-1 and the T20I series 2-1. They will also fly to Australia to play four Tests, three T20Is and three ODIs in November-December. -
02 March 2018India mourns Bollywood superstar Sridevi with state funeral
Her body was flown back to India on Tuesday, after it was handed over to the family, led by her producer husband, Boney Kapoor . Top stars such as Kajol, Deepika Padukone and Hema Malini were at the club and many are expected to also attend the funeral.
02 March 2018Sridevi's funeral: Family, celebs, fans gather to bid farewell to Bollywood icon
Rahul Dixit, a resident of Lokhandwala, said, "I just live across the street and I did see her a couple of times earlier". She took a 15-year-break from acting in 1997, before returning to star in the comedy-drama " English Vinglish " in 2012.(EXAS) Expected to Post Quarterly Sales of $87.30 Million
The business is scheduled to report its next quarterly earnings results after the market closes on Thursday, February 22nd. Large investors have recently bought and sold shares of the business. 44 funds opened positions while 77 raised stakes.
