DoorDash filed to go public in February, but the coronavirus pandemic but put those plans in flux.
by European company Just Eat Takeaway for $7.3 billion. On Thursday, DoorDash announced $400 million in fresh capital.
This latest fundraise elevates the San Francisco-based startup’s valuation to nearly $16 billion, according to a. DoorDash, which has raised more than $2.4 billion in venture funding since its 2013 launch, confidentially filed to go public in February. But the rapid outbreak of Covid-19 in the United States—while increasing food delivery volumes—has stalled the IPO market.
The latest capital injection will go towards new products and services to address the changing commerce landscape made necessary by Covid-19, DoorDash said it its press release. The new funds may also further the startup’s quest to increase market share in the U.S., Canada and Australia, the three countries where it operates.
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