GoPuff Raises $1 Billion In Funding
GoPuff has raised $750 million and a commitment of up to $250 million or more, according to The Inquirer.
GoBrands, the parent company, is a delivery company that specifically markets to college students and young adults. The idea is to replace snack and beer runs with a delivery service that charges a small fee.
The investment round was led by Softbank Vision Fund and Accel Partners. The newly attained capital will allow GoPuff to expedite its growth and ramp up the competition against industry leaders Amazon Prime, Uber Eats, and Doordash.
The founders of GoPuff, Yakir Gola and Rafael Ilishayev, are former Drexel students that met on campus and developed the idea. When asked about the founders, a partner at a venture capital firm stated, “We were impressed.” He continued, “We liked these two young guys, though they were inexperienced."
GoPuff has raised $750 million and a commitment of up to $250 million or more.