Dan Primack Mar 1, 2017
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Instacart is raising a massive new funding round

Instacart CEO Apoorva Mehta(TechCrunch via Flickr CC)

Instacart is in advanced talks to raise around $400 million in new venture capital funding at a $3 billion valuation, Axios has learned from multiple sources. The on-demand grocery delivery company previously was valued at around $2 billion, after having raised more than $260 million. Word is that existing shareholder Sequoia Capital will lead the new deal.

This comes shortly after a recent dust-up over altered pay for delivery workers, which one source acknowledges was an unforced error, but not one that investors apparently believe will have negative long-term consequences. Part of that confidence may be that they seem to be valuing San Francisco-based Instacart mostly on its tight integration with retailers, rather than on its delivery model (or even its lucrative CPG partnerships). In fact, there is some talk that Instacart could someday cut the company-managed deliveries all together, allowing the retailers or third parties to handle last-mile.

No comment from either Instacart or Sequoia Capital.

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Trump: Transgender people "disqualified" from the military

SecDef Jim Mattis and Gen. Joseph Dunford.
Secretary of Defense Jim Mattis and Gen. Joseph Dunford. Photo: Andrew Harrer-Pool / Getty Images

President Trump late Friday issued an order disqualifying most transgender people from serving in the military.

"[T]ransgender persons with a history or diagnosis of gender dysphoria -- individuals who the policies state may require substantial medical treatment, including medications and surgery -- are disqualified from military service except under certain limited circumstances."

Why it matters: Anything short of an inclusive policy for transgender troops will be viewed as a continuation of the ban Trump announced on Twitter in August.

Haley Britzky 3 hours ago
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Both Bush and Obama also requested line item veto power

Donald Trump.
Photo: Mark Wilson / Getty Images

President Trump tweeted on Friday evening that to avoid having "this omnibus situation from ever happening again," he wants Congress to re-instate "a line-item veto."

Why it matters: This would allow him to veto specific parts of a bill without getting rid of the entire thing. Trump was deeply unhappy with the $1.3 trillion spending bill approved by Congress early Friday morning, but signed it anyway on Friday afternoon.