Instant grocery — where urban-dwelling consumers buy food and other essentials and can get them delivered in 15 minutes or less — continues to be a big business, and one of the juggernauts in the space is now raising a big round of funding to meet that opportunity: GoPuff is in the process of raising $1.5 billion, with a valuation of up to $40 billion.
From what we understand, the funding is being structured as a “Series X” convertible note from Guggenheim Partners. Other investors are not being disclosed. The size and nature of the raise, as a convertib …
