125x returns on Instacart for seed investors


  • Instacart (YC startup) went to IPO at $30/share on Sep 18, 2023
  • Seed and series A investors got 125x return (without factoring in dilution)
  • Late stage investors got negative returns
  • Late stage VC seems like easy money (as you get to invest in derisked businesses only and just flip them before the IPO) but is very hard in reality. Source:

The various stages and stock price:


Other useful reads: