Instacart is being valued at $39 billion in a new round of funding that will add $265 million to the grocery delivery company’s coffers. It’s the second time Instacart’s valuation has doubled since the start of the Covid-19 pandemic.
Less than five months ago, Instacart raised $200 million in a deal that valued it at $17.7 billion.
According to Pitchbook, Instacart is now the second largest U.S.-based unicorn, behind SpaceX, Elon Musk’s space start-up that’s valued at $74 billion.
The adoption of grocery delivery has skyrocketed during the pandemic as consumer demand for grocery and convenience delivery and pickup services surged. “This past year ushered in a new normal, changing the way…