Instacart slashes its valuation to $24 billion
CNN
Instacart's valuation doubled twice to $39 billion in the first year of the public health crisis, fueled by a pandemic boon to its on-demand grocery delivery business. Now it's falling back to earth.
On Thursday, the decade-old, privately-held startup informed its 3,000 corporate employees that it is revising its valuation down to $24 billion, citing market conditions.
An Instacart spokesperson said in a statement to CNN Business Friday that the company is "confident in the strength of our business, but we are not immune to the market turbulence that has impacted leading technology companies both public and private."
Elon Musk says that he believes the US Postal Service and Amtrak need to privatized and that “we should privatize anything that can reasonably be privatized.”
Tom Llamas will replace Lester Holt as the face of “NBC Nightly News.”
The Los Angeles Times’ billionaire owner, who unveiled an AI tool that generates opposing perspectives to be displayed on Opinion stories, was unaware the new tool had created pro-KKK arguments less than 24 hours after it launched — and hours after the AI comments had been taken down. The incident presents a massive hurdle for the Times as the newspaper looks to leverage the new suite of offerings to woo back old subscribers and win over new ones.
US stocks rose Wednesday after the Trump administration announced it would grant a one-month exemption for tariffs on Canada and Mexico that affect automakers.
President Donald Trump has granted an exemption on auto tariffs on Mexico and Canada for one month, White House Press Secretary Karoline Leavitt confirmed Wednesday.
The Trump administration’s frenetic policy changes appear to be making US businesses think twice about hiring new workers.
If you don’t like President Donald Trump’s tariff policy, wait a minute.
Well, it finally happened: President Donald Trump fulfilled his promise to impose sweeping tariffs on America’s top three trading partners, Mexico, China and Canada.
So much for the theory that Wall Street will keep Trump in line …
Employers have already started making moves in anticipation of possible scrutiny from the Trump administration.
Target is facing a 40-day consumer boycott starting Wednesday over the company’s shift away from diversity, equity and inclusion (DEI) policies.
China has set an ambitious target for “around 5%” growth in 2025, maintaining last year’s goal even as it braces for the fallout from escalating American tariffs on its export-driven economy.
Lawmakers and aviation organizations grappled with whether the US has maintained its title as “the gold standard” when it comes the safety of the nation’s air traffic control system in a House hearing Tuesday.