INSUBCONTINENT EXCLUSIVE:
In a wide-ranging conversation at TechCrunch Disrupt San Francisco last week, Postmates co-founder and chief executive officer Bastian
its IPO prospectus in September in preparation for a fall exit, sources familiar with the matter told TechCrunch this summer
Uber, Lyft, Slack and other fast-growing unicorns have struggled since entering the public markets earlier this year despite sky-high
private market valuations
WeWork, a money-losing endeavor, recently decided to delay its IPO after demand from Wall Street devalued the business by the billions
Whether Postmates will complete its debut by the end of the year is unclear.Postmates confidentially filed with the United States
Securities and Exchange Commission for an IPO in February
Shortly after, Postmates held M-A talks with DoorDash, another food delivery unicorn, according to people familiar with the matter, but
failed to come to mutually favorable terms
DoorDash has previously declined to comment on these reports
I think everyone is well aware of the strengths and the weaknesses of each other and you know at some point down the line, if we take Europe
for example, you will see consolidation in the market
a network of local gig economy workers, in more than 3,500 cities across all 50 states
be plotting a foray into Europe, where Deliveroo, Just Eat and others dominate the market.Postmates has raised about $900 million to date,
including a $225 million round announced last month that valued the company at $2.4 billion
DoorDash, on the other hand, reached a $12.6 billion valuation in May with a $600 million Series G and has raised more than double that of
Global, Blackrock and others
delivery efforts and more.
