Sequoia and Andreessen to take a huge hit on their 2021 Instacart investment, after a 75% plunge in valuation PUBLISHED FRI, SEP 15 20233:44 PM EDTUPDATED FRI, SEP 15 20236:39 PM EDT thumbnail Ari Levy
KEY POINTS Venture firms Sequoia and Andreessen Horowitz invested $50 million each in Instacart at the tech market’s peak in 2021. Based on Instacart’s latest IPO prospectus, the value of those investments has sunk by more than three-quarters. Instacart is trying to crack open an IPO market that’s been closed for venture-backed companies for 21 months, but it won’t be easy.