NewsBusiness

Actions

DoorDash, growing quickly in the Valley, picks up another $100M funding

Doordash.jpg
Posted at 7:59 AM, Nov 14, 2019

DoorDash Inc. landed another $100 million in funding, adding to the more than $2 billion it has raised since its founding six years ago.

The additional funding, led by new investor T. Rowe Price Group, is part of the company’s Series G round, in which it received $600 million in May at a valuation of $12.6 billion, Bloomberg reports.

DoorDash is securing this funding despite the enforcement of California’s AB-5 looming on Jan. 1, which would turn a wide swath of contractors, including app-based delivery drivers, into permanent employees of the companies that they work for.

That, in turn, is expected to drive up operating costs for these companies.

Read more from the Phoenix Business Journal.