SAN FRANCISCO: Instacart Inc is slashing its valuation to about US$13bil (RM61.12bil) and steering clear of a highly anticipated public stock listing until market conditions improve, according to people familiar with the matter.
The US’ largest online grocery-delivery company set a new price of US$38 (RM178.68) a share, marking the third time it has reduced the valuation this year, said the people, who asked not to be identified because the matter is private.
