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Report: SoftBank to invest up to $300M in US food delivery startup

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Report: SoftBank to invest up to $300M in US food delivery startup

SoftBank Corp. is looking to invest about $300 million in U.S.-headquartered food delivery startup DoorDash, Recode reported Dec. 7, citing sources familiar with the matter.

The Japanese company's reported investment will be made through its Vision Fund. The potential deal, however, can still collapse.

DoorDash had a valuation of about $720 million in March 2016 after receiving its most recent funding of about $130 million, the report said, citing PitchBook.

Via its Vision Fund, SoftBank has invested in sectors including ride-hailing, semiconductors and e-commerce in 2017.