Craft.io says they have raised $900 Million. They want to IPO at a valuation just barely double that amount after 8 years of trying. That seems very desperate t

Craft.io says they have raised $900 Million. They want to IPO at a valuation just barely double that amount after 8 years of trying. That seems very desperate to me, especially considering the onslaught of competition, declining revenue growth. There's no moat. It's easy to create hyperlocal competitors. There are many. This market is saturated. I can't see how postmates can continue to grow wealth for investors. Neither can the public markets. They are barely better than index funds with way more risk.