Instacart Raises $660 Million in IPO, Valued at $10 Billion

Instacart has priced its initial public offering (IPO) at $30 per share, raising $660 million and valuing the company at $9.9 billion. This is significantly below its last private fundraising round in 2021, which valued the company at $39 billion. The successful IPO could give hope to other companies seeking to tap the public markets, as it follows a period of low IPO activity. Instacart's path to the public market has been closely watched, and a positive reception could encourage more companies to raise money through IPOs. Despite facing challenges, such as a slowdown in growth, Instacart has managed to turn a profit by expanding into more profitable businesses.