Doordash, a restaurant-delivery as a service firm, has recently raised a $250M series E round led by Coatue Management and Digital Sky Technologies. With this new injection of capital, the total funding for the company grows to $971M with a $4B post-money valuation. This is close to 3X the valuation of the firm after its most recent round of $525M in March of this year (valued at $1.5B).
Doordash’s mission is simply to connect people with possibility. It does this by offering an on-demand delivery service for local restaurants and eateries, while charging a delivery fee. More recently, Doordash introduced its ‘DashPass’, a monthly, unlimited free delivery service for $9.99. This aims to connect families and groups with both local and leading establishments at a low price-point.
This investment, it is hoped, will empower DoorDash to expand further, says CEO Tony Xu. Doordash aim to expand to over 2,000 locations by year end, reaching over 200M Americans.
Some Cyndx Finder Comparables (Private Companies):
These comparable companies have been generated using Cyndx Finder, a tool for Private Equity firms, Venture Capital Firms, and Investment Banks to analyze the entire Private Company universe and identify the most relevant and appropriate opportunities for acquisitions or market analysis.
Postmates powers local, on-demand logistics to connect customers with local couriers, who purchase and deliver goods from restaurants and stores throughout the city
UberEats provides a food delivery platform to facilitate meal ordering and delivery at the click of a button
Quiqup provides on-demand delivery service that is vertical agnostic – offering food delivery or last-mile delivery for businesses too.
Sources used to verify and support the funding history and company statistics: