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The Information reports that technology-delivery company Instacart is likely to delay its long-planned initial public offering (IPO) until next year.

CEO Fidji Simo informed employees of the shift in going-public plans in an email, noting that the markets are "extremely tumultuous ."

According to the story, "Simo argued that the postponed IPO was a result of market conditions rather than the company’s financial performance.

"Revenue and gross profit in the third quarter of the year had increased over 40% from the same period the previous year, and net income and adjusted profit before interest, taxes, depreciation and amortization had more than doubled since the second quarter of the year, she said."

However, it was just last week that Instacart lowered its internal valuation for the third time this year, to $13 billion.

The New York Times adds some context:

"Instacart filed papers this year for a so-called confidential filing, which meant it did not yet have to disclose certain data about its business. The filing did not require Instacart to follow through with a public offering, but it was considered a big step toward one. The company had planned to make its financial information public this week, starting the official process, said two of the people with knowledge of the matter, who declined to be identified because the discussions are confidential. But amid market jitters, the plans were halted, they said.

"Instacart is not withdrawing its filing and is awaiting more favorable market conditions to go public, one person said. Yet the window for going public this year is quickly shutting. Bankers prefer not to take companies public over the holidays, and the company is running out of time."