by Amelia Lucas

DoorDash has raised an additional $400 million in equity finacing leb by 

Durable Capital Partners and Fidelity pushing its valuation to $16 billion.

Axious reported.

The coronavirus pandemic has unpended U.S. economy and wreaked

havoc on businesses ranging from golbal shipping to cruise lines to

restaurants. But food-delivery companies are thriving, DoorDash looking to

be the rare winner in its niche.

Since COVID-19 lockdown orders were isssued across the U.S. in mid-March

and consumers shifted to ordering delivery for dinner, DoorDash sales have

surged, accoeding to data from Edison Trends, which studies anonymized

and aggregated e-receipts from millions of U.S. consumers.

The food-delivery service, which earned the No. 12 spot on the 2020 CNBC

Dispruptor 50 list grabed 45% of third party - delievery orders, followed

by rivals UberEatsat 28%, Grubhub at 17%and Postmatesat 7%.

DoorDash on Thursday confirmedthat it raised $400 million in equity capital 

selling shares to mutal fund companies T Rowe Price and Fidelity, along

with other invetors.

The funding deal could push off the meal-delivey giant's move to go public.