The Clap
Grocery delivery startup “Instacart” has cut its own valuation from $39 billion to $24 billion.
Why?
Attract new talent & adapt to market conditions. Cutting its valuation will allow Instacart to provide better equity options to new employees. The company, which had its business boom during the pandemic, is now struggling to build on the boost provided by the pandemic & lockdown.
More on Instacart
Instacart allows customers to order groceries from participating retailers. The startup is backed by big-name investors like Andreessen Horowitz & Sequoia Capital.
Instacart on Wall Street?
Talks of taking Instacart public have long been around, whether through an IPO or a direct listing. However, Instacart’s CEO recently declined to give a timeline for the listing, but said that “at some point, of course.”
