Friday, February 22nd, 2019

Flexport Raises $1 Billion
Company Blog Post

The customs brokerage and freight forwarding company announced that it has secured $1 billion in new funds. The round was led by Softbank’s Vision Fund.

The company plans to use the funds for product development, hiring and bringing onboard more local experts in its global markets.

Last year, the company doubled its top-line revenue to nearly $500 million and increased its headcount to approximately 1,000 employees. Flexport operates in 11 offices and warehouses globally. According to a Forbes report, citing sources familiar with the matter, the new funds value the company at $3.2 billion.

Zillow Announces a New Chief Executive Officer
Press Release

The real estate search platform announced that Rich Barton, its co-Founder who started the company in 2005 and served as its Chief Executive Officer until 2010, will now return as the CEO of Zillow Group.

He replaces Spencer Rascoff who will remain on Zillow Group’s board of directors.

According to a company press release, the announcement comes at a time when the Zillow Group is dramatically expanding the scope of its business with initiatives in buying and selling homes, and additional services such as mortgage lending.

DoorDash Increases its Valuation to $7.1 Billion
Company Blog Post

The on-demand food delivery company announced that it has raised $400 million in new funding.

The new funds look to help the company grow in an increasingly competitive food delivery market with rivals such as GrubHub, Uber Eats, and Postmates.

The Series F investment round was co-led by the Temasek and Dragoneer Investment Group.