GoPuff raises $1.15 billion at nearly $9 billion valuation from SoftBank, others

(Reuters) - U.S. delivery start-up goPuff said on Tuesday it has raised $1.15 billion in a new round of funding from investors including SoftBank, bringing its valuation to $8.9 billion.

The latest funding round is likely a precursor for the company potentially going public later this year. A source close to the matter told Reuters that GoPuff has already started discussions with financial advisers and banks and are mulling whether to go forward through a traditional initial public offering or a merger with a special-purpose acquisition company.

GoPuff did not respond to a Reuters request for comment on its plans to go public.

The Philadelphia-based company, which delivers everything from food and alcohol to medicines at a $1.95 flat delivery charge, had its last funding round in October when it raised $380 million at a valuation of $3.9 billion.

The company said it plans to use the funds to expand in new geographies, both in the United States and internationally, introduce new product categories, invest in new technology and talent.

The new investors include D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1.

(Reporting by Aishwarya Venugopal and Anirban Sen in Bengaluru; Editing by Vinay Dwivedi)

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