Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

DoorDash co-founder and CEO Tony Xu. Photo by Steve Jennings/Getty Images

Food delivery startup DoorDash today will announce that it has raised $535 million in new funding led by SoftBank. Axios has learned the post-money valuation is $1.4 billion, and that SoftBank plans a subsequent tender to purchase additional shares from insiders.

Why it matters: SoftBank also is an investor in Uber, which is a DoorDash competitor via Uber Eats, and now will have seats on both the companies' boards (albeit with different representatives). One possibility is that this round could presage an eventual acquisition.

DoorDash co-founder and CEO Tony Xu estimates that only 5% of U.S. restaurant take-out is currently done via online-enabled delivery, with the rest still involving phones and customer pick-up. That means there is plenty of green space — not only for DoorDash, but also for UberEats and other rivals like GrubHub and Caviar.

  • Other investors in the round include return backers GIC, Sequoia Capital and Wellcome Trust.
  • SoftBank last year went deep into discussions with London-based food delivery company Deliveroo, but ultimately didn't invest.

Tony Xu says that DoorDash plans to triple its number of geographic markets in 2018, with plans to be at 1,600 by year-end. It also wants to increase headcount from 550 to around 800: "We decided that now is the time to step on the gas pedal."

Go deeper

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Peloton's wild ride and possible buyers

Illustration: Megan Robinson/Axios

Peloton is having a bumpy ride, and has become a source of fascination among even those who've never invested or clipped in.

Driving the news: On Monday, a hedge fund with less than a 5% stake in Peloton called for CEO John Foley to be fired and for the connected fitness company to consider seeking a strategic buyer. Shares gained nearly 10% on the news, but remained down 16.2% for the year and off 80% their December 2020 peak.

Scoop: Republicans probe NBC over Beijing Olympics coverage

Photo: Oscar del Pozo/AFP via Getty Images

Republican leaders on the House Energy and Commerce Committee have sent a letter to NBC Universal executives voicing concerns about "the extent of influence the CCP (Chinese Communist Party) may have over NBCUniversal’s coverage of the games."

Why it matters: The human rights abuses committed by the CCP have been the subject of intense scrutiny ahead of this year's Winter Games in Beijing. Activists last year sent a letter to NBC executives urging the network to cancel plans to cover the Olympics.

Scoop: Trump's new social network quietly courting influencers

Illustration: Lazaro Gamio/Axios

Former President Trump’s elusive new social media network Truth Social — which plans to go public — is reaching out to internet influencers asking them to “reserve their spots” for when it launches in February or March.

Why it matters: The outreach doesn’t mention Trump’s name or affiliation. Some influencers suggest that could be a ploy to enlist their support without realizing the affiliation.