Source: Bloomberg
Summary
Instacart is reportedly considering new funding that would value the company at $20 billion. This is double the $10 billion valuation it reached in October. The potential funding round is said to be in the works, but details are not yet confirmed. Instacart has been expanding its services and partnerships in recent years. The company has not officially commented on the reports.
Our Reading
The announcement sounds ambitious.
Instacart’s valuation could reach $20 billion with new funding. Because what’s a successful grocery delivery service without a valuation that’s twice as big as it was a few months ago? The company’s growth is impressive, but the rapid valuation increase sounds like a familiar script. Instacart is still trying to turn a profit, but investors are betting big on its future.
Author: Evan Null
