Instacart is targeting a valuation below $10 billion for its upcoming initial public offering, the Wall Street Journal reported Sunday, a far cry from the nearly $40 billion it was valued at just a couple of years ago.
According to the Journal, Instacart is seeking a valuation of roughly $8.6 billion to $9.3 billion, and is set to begin marketing its offering to investors as soon as Monday. The report said the valuation target could still change before the IPO launches later this month.
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