Instacart's Successful IPO Launches Valuation to $14 Billion
TL;DR Summary
Instacart's shares surged 40% in their Nasdaq debut, opening at $42, valuing the grocery delivery company at approximately $14 billion. The IPO, which was priced at $30 per share, marked the first notable venture-backed company to go public in the U.S. since December 2021. Instacart had to significantly reduce its stock price to attract public market investors, as its private market valuation dropped from $39 billion to $10 billion. The company has prioritized profitability over growth, reporting $114 million in net income in the latest quarter. Instacart faces competition from Amazon, Target, Walmart, and DoorDash, among others.
- Instacart shares start trading on Nasdaq at $42, valuing grocery delivery company at about $14 billion CNBC
- Instacart Prices IPO at $30 a Share, at Top End of Expectations The Wall Street Journal
- Instacart set to be valued at nearly $13 bln in Wall Street debut Reuters
- Instacart prices IPO at $30 a share, valuing grocery-delivery company at about $10 billion CNBC
- Instacart stock pops 40% in market debut Yahoo Finance
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