Grocery delivery start-up Instacart cut its internal valuation to $10 billion, the Information reported on Tuesday, citing two people familiar with the situation.
The company’s new valuation is 20% lower than its previous valuation of $13 billion in October, and it has been cutting its valuation this year, beginning with a 40% reduction in March. Instacart did not immediately respond to a request for comment on the report from Reuters. The COVID-19 pandemic darling was valued at $39 billion last year as rising infections increased doorstep deliveries, but recent valuation cuts highlight the effects of public market volatility on high-flying private companies.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Grocery delivery start-up Instacart cut its internal valuation to $10 billion, the Information reported on Tuesday, citing two people familiar with the situation.
The company’s new valuation is 20% lower than its previous valuation of $13 billion in October, and it has been cutting its valuation this year, beginning with a 40% reduction in March. Instacart did not immediately respond to a request for comment on the report from Reuters. The COVID-19 pandemic darling was valued at $39 billion last year as rising infections increased doorstep deliveries, but recent valuation cuts highlight the effects of public market volatility on high-flying private companies.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
