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A new $100 million investment in Postmates values the food-delivery startup at $1.85 billion ahead of its 2019 IPO.

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2098 Rider
 Posted 5 years, 6 months ago


The investment includes participation from a new backer, the prominent public-market investor BlackRock, which is getting into the company in the nick of time: Postmates has hired JPMorgan Chase to underwrite its IPO, which is expected in the first half of this year. The company, which is most popular in Los Angeles, has been dramatically expanding its delivery regions, with its service now available in 550 cities; In 2017, its revenue grew more than 85 percent to around $250 million on nearly $900 million in total gross sales.  


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