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Instacart is going public, and for way less than it once hoped.
The company had slashed its internal valuation nearly in half — from about $40 billion to $24 billion — in March last year, then later backed away from its IPO plans over market instability.
Now, The Wall Street Journal reports that Instacart will kick off its initial public offering with a “roughly $8.6 billion to $9.3 billion” valuation as early as Monday morning.
Correction, September 11th 12:35AM ET: Instacart cut its internal valuation from $40 billion to $24 billion in March, not from $40 million to $24 million as originally stated in this quickpost. We regret the error.
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