News

DoorDash Valuation Boost To $7.1B With The Latest Funding Of $400 M

Investment Groups, Temasek and Dragoneer participated in the Series F round of funding.

DoorDash Valuation Boost To $7.1B With The Latest Funding Of $400 M

Food delivery companies are turning heads in the investment world by raising a large pool of funds. Recently US food delivery giant DoorDash new funding reached $400 million. In DoorDash series F funding, Temasek and Dragoneer Investment Group were the major investors. The total capital of DoorDash rose up to $1.4 billion.

DoorDash aimed for funds with the aim of becoming the food delivery leader in the US and Canada Market. In March 2018, it pocketed $535 million funding, which was followed by a $250 million fundraising in August.

Tony Xu, Co-founder, and CEO told,

San Francisco based company have expanded its operations to 80% of the U.S. and to further extend their reach; the company has partnered with many major chains like Chipotle and Cheesecake. Doordash Series F funding looks to aid the company’s expansion policies.

DoorDash

With the Doordash new funding, the food delivery company's valuation hiked to $7.1 billion and is just inch short to their closest rival, GrubHub, whose market cap is estimated to be $7.2 billion. Tony Xu accredited the DoorDash new funding to their three elements, which includes:

  • Geographical hold
  • DoorDash Drive
  • Partner’s selection

Interestingly, the company was recently under the scanner for their tipping policies to the driver. Food delivery company provides $1 per order payout to their drivers.

In retaliation, both drivers and consumers raised their concerns regarding subsidizing the driver’s payments with tips given by customers.“DoorDash doesn’t show workers what part of the ‘guarantee’ is from the tip and what part is from DoorDash,” Sage Wilson of labor organization Working Washington told TechCrunch in an email.

On the other hand, the company doesn’t seem to budge on its policies as it has tested it for months before implementing it.

Manish <span>Content Strategist</span>
Written By
Manish Content Strategist

With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!

Think Your Professional Journey
Deserves A Spot In Our 40 Under 40 Report?

Featured Success Stories

News

AI-Driven Chat-Based Hyperlocal Services App Dunzo Raises $3.1M In Series C Funding

2 min read  

Artificial Intelligence-driven on-demand task manager app Dunzo has raised $3.1 million in a Series C funding round. The investment round was led by Milestone Trusteeship Services, N Lakshmi Narayanan (former Cognizant CEI), Monika Garware Modi, and the Raintree Family.The startup which was foun

News

Fintech Start-up B-Social Raises £3.2 Million Investment

2 min read  

B-Social, a London-based banking app startup that has created a ‘social finance’ app and offers a beta debit Mastercard, has successfully secured £3.2 million through its latest seed funding round.Founded in 2016, B-Social is currently applying to Prudential Regulation Authorit

Featured Success Interview

Interview

Interview With Coyote Jackson, Director of Product Management, PubNub

MAD Team 4 min read  

MobileAppDaily had a word with Coyote Jackson, Director of Product Management, PubNub. We spoke to him about his journey in the global Data Stream Network and real-time infrastructure-as-a-service company. Learn more about him.

Interview

Interview With Laetitia Gazel Anthoine, Founder and CEO, Connecthings

MAD Team 4 min read  

MobileAppDaily had a word with Laetitia Gazel Anthoine, Founder and CEO, Connecthings. We spoke to her about her idea behind Connecthings and thoughts about the company’s services.

Interview

Interview With Gregg Temperley, Founder Of ParcelBroker App

MAD Team 4 min read  

MobileAppDaily had a word with Gregg Temperley, Founder. We spoke to him about his idea behind such an excellent app and his whole journey during the development process.

App Development

How to Implement Artificial Intelligence and Machine Learning in an Existing App?

MAD Team 11 min read  

AI is for decision making, and ML makes the system to learn new things from data.

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.