As much as we like to end the year with some good news, what we are hearing from grocery delivery company Instacart is not exactly that.
According to The Information, citing “two people familiar with the situation,” Instacart has cut its internal valuation to around $10 billion. That’s 20% lower than its October 2022 valuation — and a 75% cut compared to its March 2021 peak.
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This isn’t the first time that Instacart’s valuation has moved up or down since it became a decacorn — but the graph is more pyramid-shaped than up and to the right. In case you haven’t been keeping tabs on its pre-IPO journey as closely as we have, here’s a recap:
July 2020: ~$13.8 billion valuation set by a $100 million funding round.
October 2020: ~$17.7 billion valuation set by