Corporate Law News

DoorDash Is Said to Tap Banks for $400 Million Ahead of IPO (1)

Aug. 8, 2019, 10:20 PMUpdated: Aug. 8, 2019, 10:18 PM

DoorDash, the app-based food-delivery service, is in talks with banks about arranging a credit facility of about $400 million ahead of a possible initial public offering, according to people with knowledge of the matter.

The San Francisco-based company may seek to offer shares as early as next year, said the people, who asked not to be identified because the plans aren’t public. JPMorgan Chase & Co. is leading the potential financing ahead of the IPO, the people said.

Tony Xu
Photographer: David Paul Morris/Bloomberg

Closely held DoorDash, which counts SoftBank Group Corp. as a major backer, is valued at $12.6 billion after raising $600 million...

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