facebook pixal
Technology

Gopuff reportedly closing in on another $1B fundraise

The fast-growing delivery company could be valued at $15 billion after what would be its second $1 billion cash infusion this year.
Image courtesy of Gopuff

Delivery company Gopuff, which earlier this week announced a big move into the restaurant business, is set to raise $1 billion in a fresh funding round, Bloomberg reported Thursday.

It would be the company's second $1 billion fundraise this year (it raised $1.15 billion in March) and would bring its total valuation to $15 billion. 

Gopuff had not responded to a request for comment as of publication time.

The Philadelphia-based company delivers more than 3,000 everyday products, including groceries, cleaning products and pet supplies, from its network of fulfillment centers across the country. On Tuesday, it unveiled a new Gopuff Kitchen program that will allow customers to add made-to-order food like pizza, chicken tenders and salads to their digital shopping carts. That makes it a formidable foe for delivery companies like DoorDash and Uber Eats, as well as a competitor for restaurants' off-premise business.

The March funding round cemented the company as a leader in last-mile delivery, and fueled rumors that it plans to go public. Reuters, citing a source close to the matter, reported at the time that Gopuff had started talking to financial advisers and banks and was deciding between a traditional initial public offering or a merger with a special purpose acquisition company, or SPAC.

Want breaking news at your fingertips?

Get today’s need-to-know restaurant industry intelligence. Sign up to receive texts from Restaurant Business on news and insights that matter to your brand.

Trending

More from our partners