Franchise News
Instacart Raises $600 Million, Now Valued at $7.6 Billion
The company raised $150 million six months ago.
Grocery delivery service Instacart has raised $600 million in funding and is now valued at $7.6 billion, according to a TechCrunch report.
This latest round of fundraising news comes six months after the company raised $150 million and about eight months after a $200 million financing, according to the article.
“2018 has been a really big year for us,” Instacart CEO Apoorva Mehta told TechCrunch. “The reason why we are so excited is because the opportunity ahead of us is enormous. The U.S. is a $1 trillion grocery market and less than 5 percent of that is bought online. It’s an enormous category that’s highly under-penetrated.”
Read the full report at TechCrunch.
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