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The company was founded in 2013 by four Stanford University students with prior experiences at Facebook, Square, Vevo, and eBay. DoorDash connects customers with local businesses across the U.S.A. and Canada, providing on-demand restaurant food delivery services
FREMONT, CA: San Francisco-based food delivery startup DoorDash raised USD 100 Million in a funding round, taking the company's valuation to nearly USD 13 billion. The funding round was led by new investor T. Rowe Price Group. Earlier in May, the company had raised USD 600 million in a Series G funding round participated by Temasek, the Vision Fund, Sequoia, and others, with a total valuation of USD 12.6 billion. Since its establishment in 2013, DoorDash has proven itself to be a fundraising juggernaut, raising a $40 million Series B in 2015, a $127 million Series C in 2016, a $535 million Series D in 2018 along with a $250 million Series E in the same year, and a $400 million Series F in 2019. The latest round of funding was participated 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.
The company was founded in 2013 by four Stanford University students with prior experiences at Facebook, Square, Vevo, and eBay. DoorDash connects customers with local businesses across the U.S.A. and Canada, providing on-demand restaurant food delivery services. The company is passionate to transform local businesses and dedicated to discovering new ways of working, earning, and living. The company has raised over USD 2 billion since its inception in 2013, two-thirds of which came in the last year and a half.
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The SoftBank backed startup is also investing heavily in Arizona under the expansion of operations. Recently DoorDash took over a large chunk of space at the new coworking office building opened by the Chicago based Novel Coworking. The company is expected to occupy four floors in the building on the Southwest corner on Central Avenue. Currently, DoorDash competes with some of the biggest rivals in the food delivery industry like Uber Eats and GrubHub, in what is considered a highly competitive market. However, the company has also tasted remarkable success in the market, with a 35 percent stake in the food delivery market, making it the largest and most dominant company in the field.
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