Instacart Valuation Cut by 62% to $14.7 Billion at Capital Group

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Capital Group cut its valuation on Instacart Inc. to $14.7 billion, which is far below the company’s own calculation of $24 billion, according to a from Bloomberg.

Capital Group said it values the company’s shares at $45.84 a piece at the end of June, in a report on the website of its New Economy Fund. This represents around a 62% decline from its last peg of $119.96 a share at the end of March.

The grocery-delivery platform slashed its internal valuation by approximately 40% since its March 2021 funding round ($39 billion) amid slowing growth, surging inflation and higher interest rates.