US delivery startup Gopuff valued at $15b after latest fundraising

Photo by Brett Jordan on Unsplash

US delivery startup Gopuff said on Friday it raised $1 billion in a funding round that included Guggenheim Investments, Hedosophia and SoftBank Vision Fund 1, valuing the company at around $15 billion.

The new valuation represents a near 69% jump from the $8.9 billion that the company was valued at, after its previous fundraising in March.

Gopuff has an investor base with high-profile names including British investor Ian Osborne’s Hedosophia, Fidelity Management and Research Co, MSD Partners and Eldridge, the investment firm headed by Los Angeles Dodgers owner Todd Boehly.

The startup, founded in 2013, delivers items like food, alcohol and medicines at a $1.95 flat delivery charge and operates in more than 450 sites across North America and the UK.

In May, it partnered with Uber Technologies Inc to expand the delivery of essential items during the COVID-19 pandemic.

Since its last fundraising, the company has announced several acquisitions including those of UK-based last-mile delivery platform Fancy and fleet management startup rideOS.

Gopuff said it will use the latest funds to further expand into North America, the UK and across Europe and for hiring and making investments in technology.

The Philadelphia-based company could potentially go public later this year, Reuters reported in March, citing a source close to the matter.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.