The grocery delivery start-up Instacart has slashed its estimated valuation for the second time in less than four months.
The new valuation stands at roughly $15 billion, a drop of almost 38% drop from its previously reported valuation of $24 billion, according to a person familiar with the matter. Instacart cut its valuation by about the same percentage at the end of March. The new stock price of the company stands at $44 versus $75 earlier.
Source: Barrons
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