Sources: Instacart slashed its internal valuation to ~$13B, its third cut this year, as it seeks to reset investor expectations ahead of an IPO (Erin Woo/The Information)

Dan Primack / Axios:
Instacart is pulling its plans to go public in 2022; the company confidentially filed for an IPO earlier this year  —  Grocery delivery app Instacart has decided to push its highly anticipated IPO into 2023, believing the current stock market is too volatile, as first reported by The New York Times and confirmed by Axios.

New York Times:
Sources: Instacart is pulling its plans to go public in 2022; the company confidentially filed for an IPO earlier this year  —  The food delivery company had been moving toward a public offering, but the window for such deals is shutting amid market turmoil.

Wall Street Journal:
Sources: Instacart plans to mostly sell employees’ stock during its IPO to help staff cash out, issuing a small number of shares and limiting the amount raised  —  Most shares listed will come from employees, in a move that could help the delivery company retain and recruit talent

Umar Shakir / The Verge:
Instacart announces its Connected Stores ecosystem, including a smart Caper Cart that lets shoppers self-checkout by detecting items placed inside it  —  Instacart gig workers have a smartphone app with scanning tools at their disposal to fulfill delivery orders — but what if regular shoppers could also use them?

Sara Fischer / Axios:
Meta will end support for Instant Articles, source says in mid-April 2023, giving news publishers six months to readjust their Facebook strategies  —  Meta is ending support for Instant Articles, a proprietary mobile format it debuted in 2015 to quickly load news articles on the Facebook app, Axios has learned.

Erin Woo / The Information:
Sources: Elon Musk told staff at an all-hands that Twitter may have a “net negative cash flow” of billions in 2023 and “bankruptcy is not out of the question”  —  Elon Musk told Twitter employees on Thursday the company may have a “net negative cash flow of several billion dollars” …