The California-based grocery-delivery company founded by University of Waterloo alum Apoorva Mehta decreased its valuation from US$39 billion to US$24 billion in an effort to help recruit and retain staff. (Bloomberg)

Talking point: The revised valuation means staff equity awards could offer bigger gains down the road. While companies sometimes raise funding rounds at a lower valuation—Rent the Runway did so two years ago in what’s known as a “down round”—it’s unusual for a company to initiate the cut itself. “It’s a reminder that nosebleed prices can have a negative impact on business operations,” according to Axios. Instacart had been planning an IPO, but has delayed that until this year at the earliest, after naming Fidji Simo as CEO. The news also comes days after Instacart announced a branding refresh, and revealed a new platform for retailers, which offers data insights and other services.