DoorDash-backed Flink is in talks to raise around $100 million at a haircut to its earlier $2.85 billion valuation, sources say
A return to normal habits and a drop in VC funding have stymied these firms.Grocery-delivery app Flink is in touch with investors over a fresh capital injection at a lower valuation, sources say, as a clawback in venture capital funding and changing consumer habits reverse the rapid-grocery sector's fortunes.
. That valuation was tacked onto a deal that was partly funded by French supermarket chain Carrefour and enabled Flink to acquire Paris-based competitor Cajoo. That steep $5 billion valuation was described by one source familiar with the deal as an inflated price negotiated by Flink with Carrefour, which only invested around $65 million.during a much larger $750 million equity raise in 2021.
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