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　the US fresh food e-commerce giant Instacart will reduce the company's valuation to about 13 billion US dollars, and does not plan to make a major investment until market conditions improve. Anticipated public listing.

　　The company adjusted its share price to $38 a share, the third time the company has cut its valuation this year, people familiar with the matter said. The people asked not to be identified because the matter is an internal company matter. Instacart slashed its valuation by nearly 40% to $24 billion in March and again to $15 billion in July.

　　The new valuation was announced at a routine staff meeting on Thursday. At the meeting, executives said the changing market environment was the reason for the valuation adjustment. The company's leadership also reiterated its intention to go public, stressing that the company's business fundamentals are healthy and that it is ready for the milestone of going public, but is waiting for an optimal window to go public, the people said.

　　A spokesman for Instacart declined to comment.

　　Instacart was founded in 2012 and is headquartered in San Francisco. The company, which filed confidentially to go public in May, plans to focus on selling employee shares, allowing its earliest hires and others to cash out, the people said.

　　The company's latest valuation is down nearly 67% from its 2021 valuation of $39 billion. At the time, Instacart received funding from Andreessen Horowitz, Sequoia Capital, venture capital firm D1 Capital Partners, as well as Fidelity Management & Research Co. and T. Rowe Price Associates Inc. and other investors raised $265 million in financing.