meals delivery startup DoorDash announced this afternoon that it has raised $ 250 million, simply 5 months due to the fact that the business announced a $ 535 million round.
Why lift extra cash so quickly? CEO Tony Xu told Axios that he wasn’t actively trying to find further funding, but turned into open to investor hobby because it might support the business expand more quickly. (possibly he’ll have greater to claim about those plans at Disrupt SF subsequent month.)
the brand new funding became led by means of Coatue administration and DST global. It sounds just like the terms have been relatively appealing too, with the valuation starting to be from $ 1.four billion to $ 4 billion.
In a blog publish, the company referred to it’s had a great 2018, with deliveries expanding 250 percent yr-over-yr, restaurant chains like Chipotle and IHOP signing up and last week’s launch of the DashPass subscription carrier, the place you can pay $ 9.ninety nine monthly to get unlimited free deliveries.
“As we grow, we will stay true to our values and our mission of connecting americans with possibility — and, believe us, we’re just getting begun,” DoorDash wrote.