Food delivery startup DoorDash is raising $500 million in funding

DoorDash, a food delivery startup, is raising at least $500 million from investors in a funding round. This round will likely value the company at about $13 billion.

Door-Dash is competing against the likes of Grubhub and UberEats. Launched in 2013, it is an app-based food delivery service that allows consumers to order food from their favourite restaurants.

In February, the company raised $400 million, which valued it at $7.1 billion. This round brought DoorDash’s total funding to about $1.4 billion, from investors like Sequoia Capital, Soft-Bank’s Vision Fund and Dragoneer Investment. 

The company had tripled annual sales in 2018 and recorded net revenue of $107 million in November.