Instacart slashes valuation

New
WJVx80

New

WJVx80
Mar 24 103 Comments

Instacart Slashes Its Valuation by Almost 40% to $24 Billion https://www.bloomberg.com/news/articles/2022-03-25/instacart-slashes-its-valuation-by-almost-40-to-24-billion

Which company is next? I think Stripe is profitable but not sure about the rest.

#stripe
#plaid
#chime
#instacart
#opensea
#discord
#klarna
#brex
#ramp

comments

Want to comment? LOG IN or SIGN UP
TOP 103 Comments
  • I knew instacart was never a good choice. Glad I didn’t join.

    I always choose real money over funny money.
    Mar 24 15
  • Wonder how employee morale is.
    And the private market startup bubble bursts.
    Mar 24 11
    • Bolt
      timetobolt

      Go to company page Bolt

      timetobolt
      Most people would have joined prior to 2022, now they have little incentive to stay. The only reason 2022 people got lucky was cuz they would not have received their grants yet, it's not some generosity from IC execs.

      If anything this is a slap in the face to tenured folks. Chances are most people that joined in mid 2021 especially have far lower TCs now than 2022 employees.
      Mar 25
    • Joined mid 2021, start wondering why I didn’t stay at previous company with just a bit lower pay but 1/3 the work.
      Mar 25
  • Square
    blockxyz

    Go to company page Square

    blockxyz
    My guess is Stripe is next. After the crash in growth stocks/fintech, are people still accepting Stripe offers with a > $95B valuation?
    Mar 24 9
  • Google
    oFdS82

    Go to company page Google

    oFdS82
    All of them. We all saw this coming (or at least I did). Employees and investors have been trying to offload shares on the private market for months. I used to receive notifications from EquityZen every week about the opportunity to buy from insiders. When so many people are trying to sell it's clear they know the company is on a rough path towards profitability. I've also interviewed employees and I can tell morale is low.
    Mar 25 7
    • Uber
      rdzK57

      Go to company page Uber

      rdzK57
      What management is telling you is different from what they are telling investors. The latter they have a fiduciary responsibility to and can’t misrepresent. If you ask them to give it to you and they do.. huge kudos to them. But, Be a realist: valuation is cut, appoorva no longer ceo and replaced, ipo plans scrapped, rumors of the board shopping the company. All of these are spun positively, but it doesn’t take a genius to read through it. In any event, I wish the best for instacart and you.
      Mar 25
    • Compass
      next_dream

      Go to company page Compass

      next_dream
      Uber said the truth. Instacart (QBpA75), I am not sure if this is your first startup experience or not and I totally understand the feeling as an insider to defend your company but public market is brutal and what management tells you and what the reality investors believe in is very different sometimes.
      Mar 26
  • Bolt
    timetobolt

    Go to company page Bolt

    timetobolt
    Hopefully Bolt isn't next
    Mar 24 2