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Illustration: Annelise Capossela/Axios

GoPuff, a Philadelphia-based instant delivery platform for everyday items, is raising $1 billion in new funding at a $15 billion post-money valuation, Axios has learned from sources close to the situation.

Why it matters: This reflects surging investor interest in hyper-local delivery, as GoPuff raised money at an $8.9 billion valuation earlier this year.

Details: The Blackstone Group is expected to be among a group of new investors, while Fidelity is among those returning.

  • All of the $1 billion is expected to be primary capital (i.e., not secondaries), with a final close anticipated for next week.
  • Bloomberg first reported on the fundraise, based on a Delaware stock authorization certificate.
  • A GoPuff spokesperson declined comment.

Go deeper

Sep 23, 2021 - Health

Devoted Health to be valued above $11 billion in new round

Illustration: Aïda Amer/Axios

Devoted Health, a health insurance startup that focuses on Medicare Advantage plans, is raising up to $1.2 billion in new funding at around an $11.5 billion valuation, according to a Delaware stock authorization filing.

Why it matters: The Waltham, Massachusetts-based company serves around 40,000 seniors in four states, more than double from the first half of 2020, and wants to eventually become a nationwide provider.

New York City passes sweeping protections for food delivery workers

A Grubhub food delivery driver rides a bicycle during a snowstorm in New York City. Photo: Alexi Rosenfeld/Getty Images

The New York City Council approved a sweeping legislative package on Thursday that aimed at improving pay and working conditions for delivery drivers working for app-based food delivery services.

Why it matters: The new protections put New York at the forefront of regulating the massive food delivery industry dominated by companies such as Grubhub, DoorDash and Uber Eats, the New York Times noted.

Everyone wants to be an influencer

Illustration: Aïda Amer/Axios

The number of people looking to become online influencers has exploded during the pandemic.

Why it matters: Almost anyone can find themselves in a position to become an influencer, and brands are throwing billions of dollars at online content creators.

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