In less than six months, DoorDash Inc.’s valuation has nearly tripled, climbing to $4 billion.
Apparently the $535 million the on-demand food delivery service secured in March from SoftBank Group Corp., Sequoia Capital and Singapore’s GIC Pte sovereign-wealth fund wasn’t enough to satiate the startup’s appetite for cash. On Thursday, the company announced that it had raised another $250 million from investment firms Coatue Management LLC and DST Global. The company’s valuation climbed from $1.4 billion.