Instacart slashes its valuation by almost 40% to $24 billion.

The article reports that Instacart Inc. is facing decelerating growth and is searing its valuation that will help the company attract talent and adapt to market conditions. It mentions that the food-delivery startup had been valued at a fundraising round, with investors such as Andreessen Horowitz, Sequoia Capital and D1 Capital Partners, as well as Fidelity Management & Research Co. and T. Rowe Price Associates Inc.