SoftBank-backed delivery start-up DoorDash is reportedly being valued at almost $13 billion
A spokesperson from T. Rowe Price confirmed that the investment came from funds and accounts advised by the firm. The spokesperson declined to comment on the exact funding amount or the valuation. Representatives from DoorDash weren't immediately available for comment.
DoorDash is among SoftBank's big bets out of its Vision Fund and one the Japanese conglomerate needs to pay off handsomely after the recent disaster at WeWork, which in September, and the ongoing public market struggles at Uber. SoftBank CEO Masayoshi Son indicated in his company's recent earnings call that there are other problematic start-ups in the portfolio, including dog-walking provider Wag., lifting the company's valuation at the time to $1.4 billion. DoorDash is investing heavily in a highly competitive market that includes GrubHub and Uber Eats.
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