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FILE PHOTO: Instacart employee Eric Cohn, 34, searches for an item for a delivery order in a Safeway grocery store while wearing a respirator mask to help protect himself and slow the spread of the coronavirus disease (COVID-19) in Tucson, Arizona, U.S., April 4, 2020. REUTERS/Cheney Orr
(Reuters) - Instacart has more than doubled its valuation in less than six months to $39 billion with a $265 million fundraising round from existing investors, as the grocery delivery company benefits from a surge in online orders during the COVID-19 pandemic.
The San Francisco start-up, whose transaction volumes surged sixfold last year as doorstep delivery boomed during lockdowns, said on Tuesday it plans to use part of the new funds to increase its corporate headcount by an estimated 50% in 2021.
Instacart reaches $39 billion valuation with new funding round
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Instacart valuation more than doubles ahead of tentative IPO
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With IPO in sight, investors see Zomato feeding many more mouths
Zomato’s latest funding round values the firm at a pre-money valuation of Rs37,850 crore ($5.15 billion)Premium
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While investing around $100 million in Zomato Pvt. Ltd in its previous funding round, Kora Management LP had said: “With 700 million active broadband subscribers in India, of which 500 million have come online only in the past four years, Zomato has many more mouths it can feed. About three months later, while the broadband subscriber base has not changed much, the assessment of how many mouths Zomato can feed has increased quite dramatically. Zomato’s latest funding round values the firm at a pre-money valuation of ₹37,850 crore ($5.15 billion). For the previous funding round of $660 million, the pre-money valuation stood at ₹24,300 crore ($3.24 billion). That represents a jump of 56% in a matter of just a few months.
Apex Clearing going public at valuation of nearly $5 billion via SPAC
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