Instacart, the grocery delivery startup, disclosed in a regulatory filing Tuesday that it had closed a monster $210 million investment that a source says will increase to $220 million when all is said and done.
The investment is said to value the company at around $2 billion, a source previously told Re/code. The filing comes three weeks after Re/code reported the company was closing in on a big new investment led by Kleiner Perkins.
Just six months ago, Instacart was valued at about $400 million in a $44 million investment round led by venture capital firm Andreessen Horowitz. But the San Francisco-based startup has grown rapidly this year — 2014 revenue will be north of $100 million, or 10 times more than it was in 2013, CEO Apoorva Mehta recently told the New York Times. The company lets customers order groceries online from local stores such as Whole Foods and Costco and have them delivered on the same day. Instacart plans to expand into categories other than groceries in 2015, Mehta has said.
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