Asset Management

T Rowe Price and Fidelity Investments plan funding for meal-delivery firm DoorDash

The San Francisco company is planning an IPO later this year

DoorDash is close to securing new funding that would value the largest US meal-delivery company at more than $15bn before the infusion, as a wave of deal making sweeps over the red-hot industry.

The closely held company plans to sell hundreds of millions of dollars of equity to existing backer T Rowe Price as well as Fidelity Investments and others, according to people familiar with the matter.

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