The grocery delivery service has slashed its valuation by almost 40% post-coronavirus, though that still represents a hefty increase for corporate backers Comcast, American Express and Amazon.
US-based online grocery delivery service Instacart, which is backed by corporates American Express, Comcast and Amazon, is cutting its valuation from $39bn to $24bn, Bloomberg reported on Friday.
Instacart’s online platform allows users to select groceries from a range of local shops that are collected by the company and delivered to their home at a time of their choosing.
The company was one of the most visible winners during the covid-19 pandemic, as social distancing measures in its home country…
