American grocery delivery service Instacart values itself at $9.3 billion
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Today, September 11, online grocery delivery service Instacart published price range for placing your shares during the upcoming IPO. In a document filed with the U.S. Securities and Exchange Commission, the company said it plans to sell 22 million shares at prices ranging from $26 to $28. Thus, Instacart plans to raise up to $616 million, and overall values itself at $8.6–9.3 billion. The IPO is expected to take place in September, although there are no exact data.
Instacart’s upcoming initial public offering is drawing attention from investors and analysts as it is one of the rare large IPOs planned for this year. The company’s valuation has dropped significantly since 2021, when it was $39 billion. This is due to both the overall decline in the market and the fact that services like Instacart’s valuation has risen sharply due to the pandemic, when many people were ordering groceries to their homes. According to some experts, if the IPO of Instacart, as well as the British chip developer Arm, is another major offering, planned for September—will be successful, which could boost the IPO market as a whole.
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