Instacart’s improvement reflects financial results from December, January and February, as well as the stock performance of similar publicly traded tech companies, the report said, adding that the new price of stock issued to employees implies a valuation of about $12 billion, up from around $10 billion.
The Information in December reported that the food-delivery company had then cut its internal valuation by 20% to $10 billion.
Instacart could not be immediately reached for a comment.
The San Francisco-based company delayed its much awaited Initial Public Offering(IPO) amid market uncertainty, according to a Reuters report in October last year.
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Instacart’s improvement reflects financial results from December, January and February, as well as the stock performance of similar publicly traded tech companies, the report said, adding that the new price of stock issued to employees implies a valuation of about $12 billion, up from around $10 billion.
The Information in December reported that the food-delivery company had then cut its internal valuation by 20% to $10 billion.
Instacart could not be immediately reached for a comment.
The San Francisco-based company delayed its much awaited Initial Public Offering(IPO) amid market uncertainty, according to a Reuters report in October last year.
Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here!