With new funding, Instacart has reached a valuation of more than double where it was last valued after fundraising in October, The Information reports.
When pandemic lockdowns hit, Instacart saw incredible growth. It led the grocery-delivery firm to profitability for the first time in its history.
Numbers To Consider:
- The company raised $265 Billion in this round.
- It values Instacard at $39 billion.
The Usual Suspects: Andreessen Horowitz, Sequoia Capital and Fidelity Management, all existing investors in Instacart, led the fundraising round.
- It comes just two months after Instacart poached a “top Goldman Sachs dealmaker, Nick Giovanni, as CFO.”
The Big Picture: Instacart has a public offering in its future, it’s just a matter of when. “It’s possible the company is raising the funds ahead of a direct listing of its shares, an increasingly popular route for companies to go public without raising money.”