Term Sheet — Tuesday, September 18

A NEW UNICORN

Good morning, Term Sheet reader. Lots of funding news today:

EXCLUSIVE: On-demand delivery startup Postmates raised a whopping $300 million in venture funding to accelerate its growth across the country. Tiger Global led the round, and the deal values the company at approximately $1.2 billion, according to a source familiar with the situation.

Last year, the company reported more than $1 billion in gross merchandise volume (the total sales volume of food and other goods...

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