Report, BFSI News, ET BFSI
[ad_1]
Read More/Less
SoftBank Group Corp sold 11.4 million shares of food delivery company DoorDash Inc, marketed via Goldman Sachs Group Inc, 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. Shares of DoorDash were last down around 5.3%.
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.
The company had reported a bigger loss in the second quarter than expected as it spent heavily to expand internationally and into a crowded market for grocery during the pandemic.
[ad_2]