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skycomputer in  
Software Engineer 10 months ago

Instacart slashes its valuation by 40% to $24B

Instacart intentionally cut its valuation by 40%, does this mean private markets are overvalued right now? Are we due for a correction? They say that this decision to lower the valuation will actually allow them to attract more talent


https://www.bloomberg.com/news/articles/2022-03-25/instacart-slashes-its-valuation-by-almost-40-to-24-billion

Bloomberg - Are you a robot?

bloomberg.com
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leggoSoftware Engineer 10 months ago
I am currently at Instacart. Move makes sense to attract new talent but everyone who joined last year at 39B are currently not very happy (myself included).

They haven’t topped our equity but are going to offer refreshers at the new valuation.
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PayPalSoftware Engineer at PayPal10 months ago
TBH . It’s happening with most people who joined pandemic boom companies in the middle of pandemic. Public or Private. People Joined PayPal at 280-300 only to see it drop to 110 now. It’s a 60% Drop
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