The San Francisco-based delivery service announced this past Thursday it had raised $225 million in growth funding from private equity giant GPI Capital. Postmates is now valued at $2.4 billion, just before the company is expected to reveal its filings to the public.
According to the press release, Postmates confidentially filed for IPO with the U.S. Securities and Exchanges Commission in February, thus the indication it will go public as soon as October. Assuming Postmates is still continuing with that plan, the startup would have to release those confidential documents to the public in the coming days or weeks.
Forbes speculates that the influx of funding could either be an indication that Postmates is either running low on cash or that it wants to boost its valuation on public markets. One thing to note, though, is that other major startups that have gone public in 2019 have avoided raising large rounds so close to their public debuts. A person close to the company told Business Insider that the new funding had nothing to do with the planned IPO.
Will the recent jump in value affect Postmates once it goes public? Deli Market News will continue to report.