🧵 1. Silicon Valley's top venture firms, Sequoia Capital and Andreessen Horowitz, face a massive blow as Instacart's valuation plunges 75% since their 2021 investment. #finance
🧵 1. Silicon Valley's top venture firms, Sequoia Capital and Andreessen Horowitz, face a massive blow as Instacart's valuation plunges 75% since their 2021 investment. #finance
🧵 2. Instacart plans to sell shares at $28 to $30 apiece, valuing the company at $10 billion—over 75% below its $39 billion valuation in 2021.
🧵 3. Instacart experienced exceptional growth during the pandemic but struggled to sustain it as the economy reopened, inflation rose, and interest rates increased.
🧵 4. Venture firms have been hit hard as IPO exits dried up, especially after investing record amounts in 2020 and 2021.
🧵 5. The changing market conditions and challenges of profitability have taken a toll on Instacart and its investors, including Sequoia and Andreessen.
🧵 Read more at: https://www.cnbc.com/2023/09/15/sequoia-andreessen-set-to-take-massive-hit-on-2021-instacart-investment.html
*yes i know