Just days after Postmates filed a confidential IPO, the latest news in on-demand delivery is that its rival DoorDash is collecting a $ 500 million round, the Wall Street Journal reports , The round would value DoorDash at more than $ 6 billion and potentially up to $ 7 billion.
According to WSJ, Temasek Holdings Pte., Singapore's state-owned investment firm, is to lead the round.
Last year, DoorDash raised $ 250 million, which the company estimated at $ 4 billion. In total, DoorDash has raised nearly $ 1 billion in funds from investors such as Softbank, Sequoia, DST Global, Kleiner Perkins, and others.
Earlier this year, the startup for food delivery was the first startup to operate in all 50 companies. Similar to Instacart, DoorDash has also reportedly subsidized the payment of workers with tips from customers, but DoorDash still has to respond to TechCrunch regarding this practice.
I contacted DoorDash and will update this story when I hear back.