According to reports, the US fresh food e-commerce giant Instacart investor Capital Group now slashes its valuation to $14.7 billionwell below its previous valuation of $24 billion.
In June of this year, Capital Group pegged Instacart’s stock price at $45.84, and in March last year, Capital Group valued Instacart at $119.96 per share, and now Capital Group’s list price has been reduced by 62%. This also means that Instacart’s valuation of itself is outdated.
Earlier it was reported thatInstacart confidentially filed for IPO in Maybut in late June, Fidelity Investments downgraded the company’s valuation.
When the epidemic was severe, Instacart grew faster, but now the situation has changed,Slowing growth, inflation, high interest rates are all bad for Instacart. When Instacart raised funding in March 2021, it was valued at about $39 billion, with an internal valuation cut of 40% a year later.
In April of this year, Instacart issued 16.6 million employee stock or options at $75 per share, valued at about $1.25 billion.
Fidelity has been reducing Instacart’s valuation since the beginning of the year. As of May 31, Fidelity Blue Chip Growth slashed the price of Instacart to $48.43 per share, down from $64.85 a month earlier. Not only that, Fidelity also slashed the valuation of Instacart rival GoPuff by 50% from March to May.
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The post Instacart, a fresh food e-commerce company in the United States, is no longer in its sight: its valuation has been greatly reduced, cutting nearly 10 billion US dollars – yqqlm appeared first on Gamingsym.