The grocery delivery company reportedly suffered a 75% valuation cut from its $39 billion high
As much as we want to end the year on good news, what we’re hearing from grocery delivery company Instacart isn’t exactly that.
According to The informationciting “two people who are familiar with the situation,” Instacart lowered its internal valuation to about $10 billion. That’s 20% lower than the October 2022 valuation – and a 75% cut from its peak in March 2021.
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This isn’t the first time Instacart’s valuation has moved up or down since it became a decacorn, but the chart is more pyramidal than up and to the right. In case you haven’t been watching the pre-IPO journey as closely as we have, here’s a recap: