Food delivery startup DoorDash is raising $500 million

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.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/food-delivery-startup-doordash-is-raising-500-million/69407829

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