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Capital Group cuts Instacart’s valuation to $14.7B, below the company’s $24B March valuation, becoming the second investor to cut the valuation in recent weeks (Miles Weiss/Bloomberg)

Miles Weiss / Bloomberg:
Capital Group cuts Instacart’s valuation to $14.7B, below the company’s $24B March valuation, becoming the second investor to cut the valuation in recent weeks  —  Instacart Inc. investor Capital Group Cos. cut its valuation to $14.7 billion, far below the online grocery-delivery firm’s own calculation of $24 billion.

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