Postmates Is Raising More Venture Capital, Seven Months After Announcing IPO Plans
A Postmates sticker is displayed outside a restaurant window in San Francisco, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Postmates Inc. said it’s raising $225 million in private capital Thursday, seven months after announcing a plan to take the company public. The move suggests technology companies are seeing more enthusiasm from private investors than from those in the public markets.
The San Francisco-based company, which makes a food-delivery app, will see its valuation increase after the new financing to $2.4 billion, from $1.85 billion in January, said a person familiar with the deal, who asked not to be identified because the details are private. The lead investor of the round, GPI Capital, will get a board seat, Postmates said.