Instacart sees its valuation spike

Instacart, the grocery delivery company, said Tuesday that it had raised another $265 million in a funding that values it at $39 billion, more than doubling its valuation for the second time in a year.

Andreessen Horowitz and Sequoia Capital, which are existing investors in Instacart, participated in the latest financing for the 8-year-old startup. Over the last year, Instacart has raised two rounds of funding totaling $525 million. It was previously valued at $17.7 billion.

The company delivers goods from 600 retailers across 45,000 stores in the United States and Canada. It has expanded beyond groceries to include office supplies, sporting goods, prescription drugs and pet supplies from chains including Staples and CVS.

The news media reports that over 75% of Americans approve of the proposed stimulus bill. That’s probably because they see the need for family stimulus checks, continued unemployment payments, assistance to small business and supporting coronavirus mitigation.

Americans should take the time to just scan the 590-page bill, which can be found online. When completed, the only words they would say is “oink, oink.”

It’s so loaded with pork related items that there is something for everyone, even those who don’t need it or deserve it. Our political representatives should take a hard look at the bill and reduce the pork or vote no when the bill is introduced for a vote.

Richard Brand

Bethlehem