Photo courtesy of GoPuff
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SoftBank’s Secret $750 Million Investment in GoPuff

Photo: Photo courtesy of GoPuff

SoftBank’s Vision Fund made one of its largest U.S. venture investments last year in a Philadelphia-based startup that has developed a big following on college campuses for its deliveries of junk food, alcohol and other convenience store items.

The Vision Fund led a $750 million investment in goPuff last August, two people familiar with the matter said, and kept an option to invest an additional $250 million this year, an approach SoftBank has used before. The sizable deal, which also included previous goPuff investor Accel, according to one of the people, shows that SoftBank has maintained a strong appetite for logistics and delivery startups, at least as of last summer, even as the sector has grown crowded, with several companies burning through cash to compete.

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