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| Instacart and DoorDash raise funds as the pandemic highlights their value. | ||||||||
| Instacart and DoorDash are both reportedly in the process of raising funds, capitalizing on their sudden importance as the pandemic has limited consumers' ability to visit grocery stores and restaurants. Instacart is raising $225 million, boosting its valuation from $8 billion in 2018 to $13.7 billion, and DoorDash is close to raising funds at a $15 billion valuation. Both firms are gaining these new valuations at a time when they have new importance to merchants and consumers – but as the pandemic fades and businesses reopen, Instacart and DoorDash need to convince consumers to keep shopping with them and become profitable to find long-term success. Business Insider Intelligence's Daniel Keyes has the full story. | ||||||||
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