Business

SoftBank sells 11.4 million shares of DoorDash - source

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FILE PHOTO: A DoorDash sign is pictured on a restaurant in the Manhattan borough of New York City, New York, U.S., December 9, 2020. REUTERS/Carlo Allegri

Aug 19 (Reuters) - SoftBank Group Corp (9984.T) sold 11.4 million shares of food delivery company DoorDash Inc (DASH.N), marketed via Goldman Sachs Group Inc (GS.N), a source familiar with the matter said on Thursday.

They were priced at around $182.95 each, a Bloomberg report 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. read more

Reporting by Echo Wang in New York and Sohini Podder in Bengaluru; additonal reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur

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