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Benzinga
Benzinga
Business
Shivani Kumaresan

Instacart Confidentially Files For US IPO

Instacart IPO United States CNBC SEC Covid-19 Pandemic San Francisco
  • 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.
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