DoorDash Valuation Nearly Triples to $4 Billion in Six Months
- Coatue and DST valued DoorDash at $4 billion in funding round
- The deal nearly triples valuation from March SoftBank round
Photographer: Jewel Samad/AFP via Getty Images
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In less than six months, DoorDash Inc.’s valuation has nearly tripled, climbing to $4 billion.
Apparently the $535 million the on-demand food delivery service secured in March from SoftBank Group Corp., Sequoia Capital and Singapore’s GIC Pte sovereign-wealth fund wasn’t enough to satiate the startup’s appetite for cash. On Thursday, the company announced that it had raised another $250 million from investment firms Coatue Management LLC and DST Global. The company’s valuation climbed from $1.4 billion.