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Grocery delivery startup Instacart raises $200 million and prepares to battle Amazon

By February 12, 2018 No Comments

SAN FRANCISCO (Reuters) – Grocery delivery service Instacart has raised $200 million in fresh funding, the company said on Monday, boosting its valuation and providing new resources for the startup to compete against heavyweight Amazon.com Inc.

Instacart, a San Francisco-based company that shops for and delivers groceries from about 200 retailers including Target Corp and Costco Wholesale Corp, said the new funding values the company at about $4.2 billion. That’s up from the $3.4 billion valuation the company commanded when it raised $400 million nearly a year ago.

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