Instacart has raised another $200M at a $4.2B valuation

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Despite plenty of uncertainty swirling around Instacart and its complex relationship with Whole Foods — now owned by Amazon — investors still seem to not be too worried, and are pouring a fresh big round of financing into the startup that values it at $4.2 billion.

Instacart said it raised $200 million in a new funding round this morning led by Coatue Management, as well as Glade Brook Capital Partners and existing investors. Instacart was last valued at $3.4 billion in a financing round in March last year — but that was prior to Amazon saying it would acquire Whole Foods in June. Instacart, to be sure, has a very wide network of grocery providers and partners, but Whole Foods was seen as one of the largest in urban areas in the United States. Instacart has raised close to $900 million in total funding.

Amazon - Week - Delivery - Groceries - Foods

Amazon just last week began testing two-hour delivery for groceries from Whole Foods with its Prime service. It wasn’t entirely clear how Amazon’s acquisition of Whole Foods (which is an investor in Instacart) was going to play out in Instacart’s market — much like it’s not clear yet how it will affect Blue Apron’s — but we’re starting to see some signs that they will be bumping heads very soon. Instacart has had...

(Excerpt) Read more at: TechCrunch

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