Briefing

The Briefing: Instacart Mulls Direct Listing, SiCepat Raises $170M, And More

Illustration of CB reporters working.

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Instacart mulls direct listing

Grocery delivery unicorn Instacart is considering going public through a direct listing instead of a traditional IPO, according to a Reuters report citing unnamed sources.

The heavily funded, San Francisco-headquartered company is reportedly considering the direct listing route out of concern that an IPO would result in shares being initially priced too low. This comes in the wake of other large, recognized venture-backed unicorns, Airbnb and DoorDash, which went public last year with big first-day pops.

Although first-day gains are common with IPOs, companies and their stakeholders often complain when pops are too large, as they end up leaving money on the table. In a direct listing, companies go public without raising money through a stock sale.

Currently, Instacart is in no need of fresh cash, having just raised $265 million in a funding round at a reported valuation of around $39 billion.

— Joanna Glasner

Funding rounds

SiCepat raises $170m for logistics: Indonesia’s SiCepat, a provider of logistics for e-commerce, announced that it has raised $170 million in a Series B funding round backed by a syndicate of global investment firms. The company, which says it is currently profitable, provides services for last-mile delivery, warehousing and fulfillment, middle-mile logistics, and other areas.

— Joanna Glasner

Dija lands $20M for fast grocery delivery: London-based Dija, a startup offering groceries delivered to customers’ doors in under 10 minutes, is launching its service with $20 million in a funding round backed by Blossom Capital, Creandum and Index Ventures.

— Joanna Glasner

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Featured

CTA

Find the right companies, identify the right contacts, and connect with decision-makers with an all-in-one prospecting solution.

Copy link