SoftBank sells 11.4 million shares of DoorDash - source
(Reuters) - 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 https://www.bloomberg.com/news/articles/2021-08-19/doordash-block-worth-2-2-billion-is-said-offered-by-softbank-ksizv6i1?sref=WJKVI5nK 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.
(Reporting by Echo Wang in New York and Sohini Podder in Bengaluru; additonal reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur)
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