SoftBank-backed digital convenience store goPuff's valuation has more than doubled in five months amid a pandemic-fueled surge in online food and grocery delivery.
The company announced Tuesday that it raised $1.15 billion at a $8.9 billion valuation.
That's a significant jump from GoPuff's last funding round in October 2020, which valued the company at $3.9 billion.
It also plans to invest in new technology, talent and product categories, like beauty, baby products and healthier food offerings.
Amazon's 2-hour Fresh service, as well as DoorDash, Uber Eats, Postmates and Instacart, have added categories like groceries, personal care items and household goods.
SoftBank Vision, Drexel University, Food