Just three months after raising $400 million, DoorDash confirmed it has closed another $600 million with New York City hedge fund Darsana Capital Partners leading the round. The new funding round increases DoorDash's post-money valuation from $7 billion to $12.6 billion, according to cofounder and CEO Tony Xu. But Xu isn’t shaken, even after seeing Uber or other consumer tech IPOs falter in the public markets. Last week, Amazon announced it was leading a $575 million in London-based Deliveroo, bringing its total funding to $1.5 billion. He’d rather focus on market expansion and what he calls DoorDash’s next billion-dollar business, DoorDash Drive, which delivers for businesses like Walmart.

Source: Forbes May 23, 2019 15:56 UTC