Your favorite munchie-delivery service GoPuff is gearing up for an IPO next year. The company just raised $1.5 billion in its latest funding round at a $40 billion valuation.
The company’s latest round —‘Series X’ is what they’re calling it — is a convertible note from Guggenheim Partners. The round has not officially closed, but GoPuff was valued at $15 billion over the summer, so its latest round is kind of a big deal (no pun intended 😉.)
GoPuff is a delivery service for groceries and everyday items where you can expect deliveries at your door in 15 minutes or less. The company launched operations in London this year and even offered to acquire a Germany-based grocery service to expand its footprint in Europe. 🌎
The company was reportedly backed by Amazon, a leader in last-mile delivery for packages and groceries, but GoPuff supposedly denied any sort of M&A/partnership discussion. The company was backed by DoorDash, a leader in food delivery, instead.
When GoPuff goes public next year, it might become one of the biggest IPOs in recent history — looking to clear a $50 billion public valuation. However, we don’t know much about the company’s financials or earnings. We can only look at comparable businesses like Uber Eats and DoorDash. But from what we can tell, those companies aren’t raking in the profits.
Ultimately, this is a ‘wait and see.’ You can discuss the IPO on the $GOPUFF.P Stocktwits stream.