DoorDash raises massive $600 million at $12.6 billion valuation

Just a year ago, food-delivery startup DoorDash was valued at $1.4 billion. Now the 6-year old rockets to $12.6 billion as investors pour $600 into Series G financing. The round was backed by new investors Darsana Capital Partners and Sands Capital, alongside existing investors Coatue Management, Dragoneer, DST Global, Sequoia Capital, Softbank Vision Fund, and Temasek Capital Management. Since inception, DoorDash has raised a total of $2 billion in funding over 10 rounds.

DoorDash continues to experience significant growth since first quarter of 2019. The startup has grown over 60% since its  Series F funding. It also expands its geographic footprint to more than 4,000 cities across the U.S. and Canada, as we come closer to achieving our goal of serving every postal code in America. It also launched its 50th city in Canada, and is on track to serve 100 Canadian cities this year.

Founded in 2013 by four Stanford students with experiences from Facebook, Square, Vevo, and eBay, DoorDash provides on-demand restaurant food delivery services connecting customers with local businesses across the United States and Canada. The company is passionate about transforming local businesses and dedicated to enabling new ways of working, earning, and living.

The company’s mission is to empower small business owners to offer delivery in an affordable and convenient way. “Our vision for DoorDash is to build the last-mile logistics layer to empower every business to thrive in the digital and convenience economy,” said DoorDash CEO and co-founder, Tony Xu. “Today’s investment by the most forward-looking firms in the world accelerates our ability to achieve this vision.”

“Building on the continued momentum of DoorDash Drive, our white-label fulfillment platform that powers direct delivery for any business, we announced last month our integration with Wegmans to power their Meals 2Go app. Drive partners exclusively with restaurants such as Chipotle, Denny’s, Portillo’s and Wingstop to power their web and mobile delivery, and has become Walmart’s largest last-mile logistics partner for grocery,” the company said in a blog post on its website.