SoftBank sells 11.4 million shares of DoorDash - source

  • 8/19/2021
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(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 here 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 Our Standards: The Thomson Reuters Trust Principles.

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