Instacart Closes $350 Million Fundraising Round To Accelerate Expansion

Instacart raised $350 million in a Series E financing round led by Coatue Management, putting the grocery delivery company’s valuation at $4.35 billion. The round includes $200 million in funding that Instacart previously announced in a February blog post. The company has raised more than $1 billion since its founding in 2012.

Instacart will use the capital to double the size of its team, further expand its footprint across North America and invest in new products and services. The company has partnered with major grocery retailers including Kroger, Albertsons, Publix, Costco, Ahold Delhaize, HEB, Loblaw and Sam’s Club, and recently added BJ’s Wholesale Club and Fresh Thyme Farmers Market as well.

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Alibaba Founders Take $20 Million Stake In Rent The Runway

Rent the Runway has received a $20 million investment from Blue Pool Capital, a fund that invests the wealth of Alibaba founders Jack Ma and Joe Tsai, according to a report in Recode. This financing round values Rent the Runway at slightly under $800 million, according to research firm Lagniappe Labs.

Rent the Runway was already profitable on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, and Co-Founder/CEO Jennifer Hyman wasn’t planning on looking for new capital. The company’s last fundraising round was in 2016, when it secured a $60 million Series E investment led by Fidelity. However, Hyman saw the involvement of Alibaba’s founders as a unique opportunity for the retailer.

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