GoBrands gets $1.5 billion in new funding

GoBrands has just authorized a new Series X preferred stock which could increase the valuation to $37 billion if all Series X shares are issued. The delivery service for daily essentials is previously backed by Hedosophia, Eldridge Industries, Atreides, SoftBank, Fidelity Management & Research, and Blackston Group to name a few. The most recent Series X round follows $1 billion raised for Series H. The terms surrounding the Series X include senior liquidation preference to all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $1,000.00, an up round from Series H at 388.49058.

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