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Is Instacart a forerunner of bad news?

According to The Information, citing “two people familiar with the situation,” Instacart has cut its internal valuation to around $10 billion. That’s 20% lower than its October 2022 valuation — and a 75% cut compared to its March 2021 peak. The Exchange explores startups, markets and money. Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday. This isn’t the first time that Instacart’s valuation has moved up or down since it became a decacorn — but the graph is more pyramid-shaped than up and to the right. In case you haven’t been keeping tabs on its pre-IPO journey as closely as we have, here’s a recap: July 2020: ~$13.8 billion valuation set by a $100 million funding round. October 2020: ~$17.7 billion valuation set by a $200 million funding round. March 2021: ~$39 billion valuation set by a $265 million funding round. March 2022: ~$24 billion valuation set by 409A process. July 2022: ~$15 billion valuation set by 409A process. October 2022: ~$13 billion set by 409A process.

Is Instacart a forerunner of bad news? by Anna Heim originally published on TechCrunch

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