My first Instacart board meeting was in November 2015. I had joined a month earlier as CFO. Our financials were ugly. We had $2M of revenue but were chewing through $11M of cash eve...
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My first Instacart board meeting was in November 2015. I had joined a month earlier as CFO. Our financials were ugly. We had $2M of revenue but were chewing through $11M of cash every four weeks, and lost $15 on every delivery. We were going to exhaust our cash in less than a year. Our last round was at $2B – a valuation detached from reality.
