Instacart raises $44 million in funding
Instacart is a grocery delivery startup that has raised $44 million from Andreessen Horowitz, Sequoia Capital, Box CEO Aaron Levie, and Y Combinator president Sam Altman. Founded by Apoorva Mehta in 2012, Instacart now has a valuation of around $400 million.
Instacart sets its own prices for goods, which is a decision that led to a cease and desist order from Trader Joes, according to VentureBeat.
Instacart is now live in 10 U.S. cities and plans to launch in 7 more by the end of the year. Instacart’s revenue has grown 15 times over the past 9 months.