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Instacart's insane valuation growth

Instacart’s insane valuation growth
$265M funding round more than doubles company’s valuation from last October
257 3 minutes read
Instacart has announced a new funding round of $265 million, increasing its valuation to $39 billion. (Photo: Instacart)
Instacart has announced a $265 million venture fundraising round, putting the total value of the company at $39 billion more than double what it was just six months ago.
The round involved existing investors Andreessen Horowitz, Sequoia Capital, D1 Capital Partners, Fidelity Management & Research Co. LLC, and T. Rowe Price Associates Inc.
“Today’s fundraising reflects the strength of Instacart’s business, the growth our teams have delivered, as well as the incredible opportunity ahead. This past year ushered in a new normal for millions of people and changed the way we shop for groceries and goods,” the company wrote in a blog post. ....

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Instacart slashing workforce, including operation's only unionized workers

Move comes as it begins to equip store employees with technology to fulfill orders
564 2 minutes read
Instacart is cutting approximately 1,800 in-store shoppers nationwide as it moves to a technology-focused “Partner Pick” model. (Photo: Instacart)
Instacart is laying off approximately 1,800 employees as it transitions to a “Partner Pick” model for grocery services.
The company made the acknowledgement in a Medium blog post on Tuesday, noting, “we’ll be winding down our in-store operations at select retailer locations over the coming months.” The line was included about two-thirds of the way down in a larger post about the new Instacart Pickup Retailer models. ....

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