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SoftBank Soars on $11 Billion DoorDash Gain, Buyout Prospect

  • DoorDash is worth $60 billion after shares climb 86%
  • SoftBank paid less than $1 billion for its 20% stake
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SoftBank Group Corp. shares surged as its paper profit from the initial public offering of DoorDash Inc. hit $11.2 billion, adding to gains from the prospect the Japanese company could attempt to go private.

The Tokyo-based company’s stock rose 11% Thursday to 8,306 yen a share, the biggest jump since March. DoorDash shares closed up 86% on the first day of trading, giving the food-delivery company a market capitalization of $60 billion.