Equity Equity Monday: Instacart, Klaviyo and the art of the unicorn haircut
Sep 11, 2023
Instacart is set to IPO, taking a significant valuation haircut but still aiming for a multi-billion dollar raise. Klaviyo is also adjusting its IPO price, signaling a broader trend affecting startups. Meanwhile, Coinbase clarifies its position in India by closing some accounts while continuing operations. Excitingly, a startup has raised $50 million to develop shared LEO satellites, enhancing access to space data. Plus, a major event in San Francisco is on the horizon, bringing buzz to the tech scene.
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Instacart's IPO and Valuation Haircut
- Instacart's IPO price range is set between $26 and $28 per share, valuing the company between $7.2 billion and $7.8 billion.
- This is a significant decrease from its $39 billion valuation in 2021, indicating a substantial market adjustment.
Klaviyo's IPO and Valuation Adjustment
- Klaviyo's IPO target price range is $25 to $27 per share, resulting in a valuation between $6.3 billion and $6.8 billion.
- This represents a decline from its 2021 valuation of $9.5 billion, similar to Instacart's down round.
Coinbase in India
- Coinbase clarified that it is not leaving India but has disabled new user signups for its exchange product since June.
- Some user accounts not meeting updated standards have been asked to move funds, leading to inaccurate reports.