附近上门

Philadelphia-based startup is itself looking for a special delivery鈥攐f money.

The instant delivery service鈥攖hat just last year closed funding rounds totaling more than $2 billion鈥攊s looking to borrow up to $300 million in a revolving credit line, Tuesday.

Revolver loans allow companies to borrow money as needed.

The report is the latest example of the extreme slowdown the instant delivery market has seen after the industry exploded during the pandemic as more people stayed home.

However, as much of the world has continued to open back up, services promising delivery in 30 minutes or less have watched their businesses slow as consumers are more willing to go out. That has led to a significant cooling of interest by investors who bloated the valuations of such companies.

In March, San Francisco-based slashed its valuation by nearly 40%, from $39 billion to $24 billion. Publicly traded has watched its shares plummet nearly 70% in the last month.

Gopuff鈥檚 rocky year

Gopuff itself has already gone through two rounds of layoffs. The company announced it laid off about 3% of its workforce. Then just last month, it said it would slice another 10%鈥攐r about 1,500 U.S. employees.

In July 2021, Gopuff closed a $1 billion Series H round that valued it at $15 billion鈥攈owever, the delivery market has severely shifted since.

Investors in the company include , , , , , , , , and others.

Founded in 2013, Gopuff has raised a total of $3.4 billion, according to 附近上门 data.

Related reading:

• Instacart Lowers Its Own Valuation From $39B to $24B
• Tech Layoffs In 2022: The U.S. Companies That Have Cut Jobs

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