They raised 265 million dollars in March of 2021 at a valuation of 39 billion.
However, they just announced the company will be doing their employee stock bonuses at a valuation of 24 billion.
525 million was Instacart’s 2018 revenue.
735 million in 2019.
1.5 billion in 2020.
1.8 billion in 2021.
Between 2018 and 2019, the company had a 40% increase in revenue, pre COVID.
Post COVID though, Instacart grew 104% as a product of the delivery boom.
Issue though is the valuation at 39 billion on 1.5 billion in revenue for 2020 was insane.
Quick comparison, DoorDash.
DoorDash is public and has a market cap of 36 billion.
2021 revenue was 4.9 billion.
DoorDash currently trades at 7.3x revenue.
Comparing that, Instacart which was worth 39 billion in it’s 2021 funding round was valued at 26x revenue.
This seems like another company similar to Peloton on a private level, which raised a ton of money and saw a massive spike to business which just has to adjust to the old normal returning.