Japanese multinational telecommunications SoftBank is now planning to invest a total sum of $300 million in San Francisco based food delivery startup DoorDash according to the sources familiar with the deal.

Investment from Softbank’s Vision Fund

The investment would be the latest big bet from SoftBank’s Vision Fund, a $98 billion pool of money that is striking enormous arrangements in some of Silicon Valley’s flashiest organizations.

While the DoorDash deal has still not yet closed, as per sources, the total investment is expected to be about $300 million, once it gets completed. The exact terms of the deal couldn’t be learned.

DoorDash Competing with Rivals

The food delivery company was last valued at around $720 million in March 2016, which also includes the $130 million it has raised.

DoorDash is competing with several rivals in the food delivery space, including GrubHub and Postmates. The company is now partnering with national restaurant chains on delivery to differentiate its business. In a statement to Recode it said that 51 of the top 100 U.S. restaurant chains including Cheesecake Factory and Jack in the Box have delivery agreements with the company.

UberEats Presenting a Conflict

Another fast-growing rival, UberEats, likewise exhibits a possible conflict for SoftBank, which has propelled a delicate offer to obtain up to 20 percent of Uber. Sources said that could be an issue that would keep the DoorDash venture from continuing.

Leave a Reply



That answer every ifs and buts of digital marketing

Stay ahead with deeper understanding of the trends and up-to-date marketing tactics; all tried & tested in the ever-growing digital space.

Article & Videos (0)

Looking to
Achieve your Goals?

Let us help you
get there!

We're a digital agency focused on
creative and results-driven solutions.

Start With
Submit Form Below