Benzinga | Mar 23, 2021 01:48PM EDT

Delivery Startup GoPuff Raises $1.15B From SoftBank, Other Investors At $8.9B Valuation: TechCrunch

Philadelphian delivery start-up goPuff raised $1.15 billion in funding at an $8.9 billion valuation, TechCrunch reports. The company had raised $380 million last fall, at a $3.9 billion valuation, followed by the acquisition of West Coast beverage retailer BevMo.

* goPuff delivers a wide variety of products under 30 minutes charging a flat $1.95 delivery fee in over 650 U.S. cities. Co-CEOs Rafael Ilishayev and Yakir Gola founded the company in 2013 as students at Drexel University.

* The company's vertically integrated approach is a crucial advantage. GoPuff bought products directly from manufacturers and distributed them through its 250-plus micro-fulfillment centers and a network of independent drivers leading to solid unit economics.

* The company continued to expand its product line-up with new Better For You (healthy snacks), Beauty and Baby categories, and Curated Mystery Boxes.

* The new funding would enable continued U.S. and international expansion and aid product launches.

* D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital, and SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) owned SoftBank Vision Fund 1 led the latest funding round.

* Price action: SFTBY shares traded lower by 0.77% at $45.20 on the last check Tuesday.