Door Dash, Inc. sold by Softbank: $ 2.06B-Aug 19
filing showed up today
from Aug 19th
SoftBank sells 11.4 million shares of DoorDash - source
Aug 19 (Reuters) - SoftBank Group Corp (9984.T) sold 11.4 million shares of food delivery company DoorDash Inc (DASH.N), marketed via Goldman Sachs Group Inc (GS.N), a source familiar with the matter said on Thursday. They were priced at around $182.95 each, a Bloomberg report said, valuing the sale at around $2.2 billion. The share sale comes a week after DoorDash, in its quarterly earnings report, predicted a seasonal decline in order rates and new customer addition in the current quarter.
https://www.reuters.com/business/softbank-sells-114-million-shares-doordash-source-2021-08-19/
DoorDash, Inc. operates logistics platform, DoorDash. The Company's DoorDash platform connects merchants, consumers and Dashers. It offers Pickup that allows consumers to place advance orders, skip lines and pick up their orders. DoorDash for Work provides merchants with group orders and catering orders for businesses and events. Its logistics service, Drive, enables merchants to fulfill consumer demand that they have already created through their channels. DoorDash handles payment acceptance from consumers through a third party payment processor that manages credit card transaction processing. Its merchant software portal allows merchants to track business performance on a number of metrics, including how long a Dasher waits for an order, order accuracy, and reports on incremental sales. It provides customer support for any orders placed through its local logistics platform. Its subscription product, DashPass, serves as a membership program and offers consumers access to merchants. Number of employees : 3 886 people.
https://www.marketscreener.com/quote/stock/DOORDASH-INC-116169045/company/
SoftBank got its start in 1981 in Tokyo. Founded as a telecommunications company, SoftBank now has a hand in a number of different areas, including e-commerce, finance, broadband, marketing, and more. The company has a portfolio including SoftBank BB, GungHo Online Entertainment, IDC Frontier, and more. In recent years, it has gone on a spending spree, buying up numerous smaller companies and initiating investments in many others. In July of 2016, for instance, SoftBank purchased UK-based chip manufacturer ARM for £24 billion, with an eye toward continuing to develop the Internet of Things. In 2017, SoftBank announced that it would buy two additional robotics companies from Alphabet. First, it bought up Boston Dynamics, the developer of the iconic Big Dog robot, and then it bought Schaft, a less well-known robotics outfit. SoftBank is headed by chair and CEO Masayoshi Son. Son has established himself as an assertive and confident player in the international tech scene. With about $100 billion to invest on companies developing the technology of the future, Son has ample room to explore a variety of new areas. According to The Economic Times, Son has strong opinions about the future of SoftBank and has put forth a conception of a 300-year plan for the company, with the end goal being to build the most valuable firm in the world. The key to Son's future investments is SoftBank's Vision Fund, dedicated to M&A deals like those listed above.
https://www.investopedia.com/news/what-softbank/
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