DoorDash raises $400M round, now valued at $7.1B

Delivery company DoorDash is announcing that it has raised $400 million in Series F financing.

…Co-founder and CEO Tony Xu  told me the funding is “a reflection of superior performance over the past year.” Apparently the company is currently seeing 325 percent growth, year-over-year, and it points to recent data from Second Measure showing that the service overtaken Uber Eats for marketshare in U.S. online food delivery — it now comes in second to Grubhub.

…He attributed the company’s growth to three factors: its geographic reach (3,300 cities in the United States and Canada), its selection of partners (not just restaurants — Walmart is using DoorDash for grocery deliveries) and DoorDash Drive, which allows businesses to use the DoorDash network to make their own deliveries.

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