Food delivery startup DoorDash is raising at least $500 million from investors in a funding round that will likely value the company at about $13 billion, people familiar with the matter said.
The final size of the funding round is still being determined, and could easily exceed $500 million, said the people, who requested anonymity because they were not authorised to discuss the matter publicly.
Launched in 2013 as an app-based food delivery service, Door-Dash competes against the likes of GrubHub and UberEats, which allow consumers to order food from their favourite restaurants. It raised $400 million in February at what the company said at the time was a $7.1 billion valuation. That round brought its total funding to about $1.4 billion, from investors including Sequoia Capital, SoftBank's Vision Fund and Dragoneer Investment.