Instacart Confidentially Files For US IPO

by Shivani Kumaresan, Benzinga Staff Writer

May 12, 2022 6:52 AM | 1 min read | Make a Comment

Grocery delivery platform Instacart has confidentially submitted a draft registration statement on Form S-1 with the U.S. SEC.
The company was valued at $39 billion in March 2021, but the valuation got slashed by 40% to $24 billion due to technology stocks’ sell off in 2022, CNBC reported.
The company got a major boost during the Covid-19 pandemic as many consumers turned to online grocery orders.
Instacart has started to explore options to expand beyond its core marketplace, the report added.
The San Francisco-based startup did not disclose the size of its IPO or its pricing range.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.