DoorDash data proves it - the app delivers on $13B valuation
DoorDash is growing (and growing, and growing). The privately-held, San Francisco-based food delivery app is seeing its valuation grow a little more, to $13 billion, as it rakes in another $100 million from investors including T. Rowe Price, according to Bloomberg, to fuel growth.
DoorDash's Apple Store rating count continues to grow - and to do so at a trajectory that should threaten established competitors like Grubhub. So far this year, ratings for DoorDash's Apple ($NASDAQ:AAPL) Store app are up by more than a million since the beginning of August. Click here to check out our past coverage of DoorDash and Caviar's deal, including a map of their combined footprint.
DoorDash has also been staffing up - headcount has increased to nearly 8,000, rising 120% so far in 2019. This isn't just DoorDash coders, engineers and sales - it's almost certainly a sign of the number of gig economy employees the company has, too, which in turn represents how much growth it has been able to achieve. We can track this via LinkedIn ($NASDAQ:MSFT) Employee Headcount.
DoorDash's trajectory is also great news for Softbank, which has seen a number of its startups stumble in a post-IPO (or, in WeWork's case, a 'no-IPO') environment, where losses are under heavy scrutiny and public market valuations are tumbling.
DoorDash has outpaced its competitors in terms of both staffing, and headcount. But, job postings are down slightly from highs hit just a few weeks ago. Looking at DoorDash's headcount, it's possible that many of the job postings no longer online are simply filled now. And, postings have still risen more than 39% in 2019.
Prior investors include DST Global, Sequoia Capital, Softbank Vision Fund, and Temasek, among others.
About the Data
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.