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After IPO delays, DoorDash confirms $400M raise

DoorDash has confirmed that it is raising “approximately $400 million” in a Series H round of funding.
Earlier today, Axios reported that the company was looking for roughly $400 million round at a post-money valuation of $16 billion. DoorDash clarified in a statement provided to TechCrunch that the valuation is slightly under the $16 billion mark.
The round was expected, though the final valuation of the deal came in $1 billion higher than earlier reports had indicated.
DoorDash, the popular American food delivery company, has aggressively raised capital throughout its life including a huge Series G in late 2019 that valued it near $13 billion. According to the company, new investors Durable Capital Partners and Fidelity led the round, along with what it described as “existing investors, funds and accounts advised by T. Rowe Price Associates.”

Why are unicorns pushing back IPOs when the Nasdaq is near record highs?
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