Instacart valuation: Instacart cuts internal valuation to $10 billion: report
Grocery delivery start-up Instacart has cut its internal valuation to $10 billion, the Information reported on Tuesday, citing two people familiar with the situation.
The company, whose new valuation is 20% lower from $13 billion in October, has been cutting its valuation this year, beginning with a 40% reduction in March.
Instacart did not immediately respond to a Reuters’ request for comment on the report.
The COVID-19 pandemic darling was valued at $39 billion last year, as surging infections boosted doorstep deliveries, but the recent cuts in its valuation underscore the effects of public market volatility on high-flying private companies.
The start-up also delayed its much awaited IPO this year amid market uncertainty.
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Grocery delivery start-up Instacart has cut its internal valuation to $10 billion, the Information reported on Tuesday, citing two people familiar with the situation.
The company, whose new valuation is 20% lower from $13 billion in October, has been cutting its valuation this year, beginning with a 40% reduction in March.
Instacart did not immediately respond to a Reuters’ request for comment on the report.
The COVID-19 pandemic darling was valued at $39 billion last year, as surging infections boosted doorstep deliveries, but the recent cuts in its valuation underscore the effects of public market volatility on high-flying private companies.
The start-up also delayed its much awaited IPO this year amid market uncertainty.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
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