(WSJ) When Instacart lists in the coming week, it will leave many of its later investors with significant paper losses—a sign of the pain venture capitalists are facing after years of fast-and-loose spending.
The grocery-delivery firm is targeting a valuation of as much as $10 billion—sharply lower than the $39 billion valuation it reached at the peak of the startup funding frenzy two years ago. Many of the investors who poured almost $1 billion into Instacart’s last three funding rounds will be underwater on those shares.
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