Today, we are pleased to announce that we have raised $400 Million in a Series F round. The investment values the company at $7.1 billion and was co-led by Temasek and Dragoneer Investment Group, with participation from our existing investors, Softbank Vision Fund, DST Global, Coatue Management, GIC, Sequoia Capital, and Y Combinator.
This latest round comes on the backs of unprecedented market share gain, accelerating growth, and several other important milestones:
We grew to 26.5% market share and our business accelerated from over 250 percent year-over-year growth, at the time of our last financing, to 325 percent this year, cementing our positioning as the fastest growing last-mile logistics company, according to Second Measure
In 2018 we expanded our geographic footprint by 5x, reaching 3,300 cities and 80 percent of Americans nationwide, and last month became the first on-demand food platform available in all 50 states
We launched and scaled our subscription service, DashPass, to become the fastest growing subscription product in our industry, adding more than 30,000 customers weekly
DoorDash Drive has continued to grow immensely. Since launching with Walmart in April 2018, the company has grown the partnership to become Walmart’s largest last-mile logistics partner for grocery
We launched our first-ever national TV campaign, Delicious at Your Door, to reach even more customers nationwide
We celebrated one year of Project DASH, which fueled the rescue of more than 500,000 pounds of food, equivalent to approximately 439,000 meals to people facing hunger
We’ve continued to partner extensively with notable national players, like Chipotle, Wendy’s, and Chick-fil-A, and leading local merchants, like Portillo’s in Chicago and Torchy’s Tacos in Texas, delivering from approximately 310,000 stores directly to your homes and offices
We made key hires in the last year, most recently our VP of Engineering, Ryan Sokol, our VP of Global Diversity, Inclusion, and Belonging, Lisa Lee, and our VP of Strategic Finance, Ravi Inukonda. We’ll continue to invest in building out our team to fuel our growth trajectory
Our mission has always been to connect customers with their favorite local and national businesses by being the best last-mile logistics player in North America. We’ve had a momentous 2018 and will continue to innovate and expand our offerings so that we can provide our customers, merchant partners, and Dasher community unparalleled experiences and service.
If you’re as inspired by this mission as we are, join us! Thank you for your support and for being a part of our journey. We’re just getting started!