Instacart valuation doubles to $39bn ahead of IPO
US grocery delivery app says it raised another $265m from investors amid pandemic boom
New York — US grocery delivery giant Instacart announced a new funding round on Tuesday, lifting its valuation to $39bn and making the company one of the most valuable start-ups in the world.
Buoyed by a surge in demand for deliveries during the pandemic, the company raised $265m from investors including Andreessen Horowitz, Sequoia Capital and D1 Capital Partners, as well as Fidelity Management & Research and T Rowe Price Associates. The start-up had been valued at $17.7bn during its most recent funding round in November. Reuters reported then that Instacart had picked Goldman Sachs to lead its initial public offering (IPO) at an estimated $30bn valuation. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.