After the latest round of investment, Gopuff’s valuation rose to $15 billion

After the latest round of investment, Gopuff’s valuation rose to $15 billion

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Gopuff has received $1 billion in funding from new investors and plans to use the funds to expand its footprint in the United States and abroad.

This funding raises the valuation of the delivery service to 15 billion U.S. dollars, Gopuff announced on Friday. Blackstone’s Horizon platform, Guggenheim Investments, Hedosophia, MSD Partners and Adage Capital are all in New investor.

These investments were made four months after Gopuff announced that it had raised $1.5 billion in a previous round of financing, which brought its valuation to US$8.9 billion then.

This Philadelphia-based company has benefited from the COVID-19 pandemic. The lockdown imposed last year forced people to stay indoors, making instant grocery delivery a profitable idea. Gopuff has raised $2.5 billion in funding in the past 10 months, Reported by TechCrunch.

Gopuff said it will begin to deepen its expansion in the UK and throughout Europe with new funding.

“As Gopuff continues to define the immediate demand economy, we are pleased to have new leading global partners joining us and the support of our long-term investors,” Co-CEO Rafael Yilishaev said. “This round of financing further validates the success of our model and will enable us to continue to do what we do best: provide an unparalleled customer experience. “

Earlier this year, Gopuff has partnered with Uber to allow customers in more than 95 cities to order groceries from Gopuff through Uber Eats.it Acquired British grocery delivery platform Fancy and launched Gopuff Kitchen to provide customers with customized food.Also bought Riding system, A software company that optimizes delivery routes for drivers.

Gopuff currently operates 450 sites in North America and the United Kingdom, including 285 “micro fulfillment centers.”

Other food delivery services, such as Door Dash and Grub Hub, have begun to expand the range of products customers can order to include cleaning supplies and medicines provided by Gopuff, CNBC reported. Amazon’s 2-hour fresh food service and Instacart have also expanded their categories to cover more Gopuffs products.

When the funding announcement was released, some Gopuff drivers who were independent contractors were working Drive change In terms of wage rates and schedules. Drivers in more than 77 cities across the country signed a petition calling for improved conditions.

“Many of us rely on the flexibility of odd jobs to meet care needs, disability and other jobs. But on GoPuff, we may be fired for missing a shift without protection or sick leave,” the petition wrote.

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