Following Dollar Tree Deal, Instacart's Valuation Doubles to $39 Billion

Instacart's valuation has exploded to $39 billion following a fresh round of funding and a partnership with Dollar Tree (NASDAQ: DLTR) to make deliveries for over 6,000 Family Dollar branded stores. TechCrunch reports the $265 million in new funding comes from previous investors such as D1 Capital Partners, Sequoia Capital, and T. Rowe Price Associates. The COVID-19 pandemic drove strong gains for Instacart during much of 2020 as people turned to grocery delivery, the company's specialty.