Delivery Startup Gopuff to Raise Funds at $15 Billion Valuation

Fast-growing delivery startup Gopuff is close to raising a $1 billion funding round valuing it at $15 billion, according to a person familiar with the matter.

Black stone Group Inc., a new investor in the company, is participating in the funding round, said the person, who asked not to be identified because the matter is private. Existing investor Fidelity will also be a part of the round, the person said.null

Gopuff was valued at $8.9 billion after a funding round in March.null

Representatives for Gopuff and Fidelity declined to comment. A spokesperson for Blackstone didn’t immediately respond to a request for comment.

Gopuff delivers thousands of products from ice cream to cleaning products for a flat fee. It’s backed by firms including SoftBank Group Corp.’s Vision Fund, D1Capital Partners, Baillie Gifford and Accel.

Earlier this week, Gopuff formalized an experimental food truck program in a move that extends its menu by delivering hot food to customers. That increases competition with DoorDash Inc. and Uber Technologies Inc.’s Uber Eats.

Founded in 2013 by college students in Philadelphia who wanted to make it easier to get convenience items delivered, Gopuff now operates in Chicago, Boston, Denver, Dallas and other cities throughout the U.S.

Source: Bloomberg