Less than a year after raising $40 million at a $600 million valuation, food delivery startup DoorDash is looking for fresh funding at a $1 billion valuation, Eric Newcomer and Alex Barinka report for Bloomberg.
The company lets people purchase meals from local restaurants that will arrive in an hour or less in any of 21 different metropolitan areas. Bloomberg reports that previous investor Sequoia Capital is expected to lead the round.
Both Sequoia and DoorDash declined to comment when contacted by Business Insider.
While DoorDash focuses on food, for now, it has hinted at ambitions to use its logistical delivery infrastructure to deliver any number of things in the future.