Postmates Files for IPO

The food-delivery startup Postmates has raised a $100 million investment just before it plans to go public, perhaps reducing the amount of money it needs to raise when it eventually lists its stock.

The new investment values Postmates at $1.85 billion, inclusive of the new cash, a person familiar with the matter told Recode, up from a valuation of around $1.2 billion that it secured in the second half of last year. Read the announcement on recode.com.