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In ‘Overcrowded’ Food Delivery Market, Venture Capitalists Are Still Hungry for More

DoorDash is said to be in fundraising talks at a valuation of at least $1 billion.
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Just eight months after raising $40 million from venture capitalists, DoorDash is making another run. The San Francisco food delivery startup is in talks to raise financing at a valuation of at least $1 billion, said people with knowledge of the matter.

Sequoia Capital, which is already an investor in DoorDash, is expected to lead the upcoming round, said the people, who asked not to be named because the discussions are private. The talks with DoorDash, which sends its couriers to restaurants to pick up and deliver customers’ orders, are ongoing, and it’s unclear how much the startup plans to raise.