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Instacart cuts internal valuation to $10 billion

According to the Information, Start-up for grocery delivery Instacart’s internal valuation has been reduced to $10 billion, according to two people familiar with the issue.

The company’s current valuation is 20% lower than its prior valuation of $13 billion in October, and it has been decreasing its worth this year, beginning with a 40% reduction in March. Instacart did not immediately reply to a request for comment on the Reuters report. The COVID-19 pandemic favourite was valued at $39 billion last year as mounting illnesses increased doorstep delivery, but subsequent valuation drops underscore the effects of public market volatility on high-flying private corporations.

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