Instacart CEO Gets Millions in Stock While Shoppers See Plunging Pay

Instacart CEO Fidji Simo will have at least $13.4 million worth of Instacart stock when the company goes public.
Instacart plans to go public at a much lower valuation than its 2021 peak of $39 billion.
Instacart shoppers now only make as little as $4 per batch in base pay after a July pay cut.
A batch can contain multiple orders, with pay increasing for more items or customer tips.
Some Instacart shoppers want to quit for 9-to-5 jobs after the recent base pay cut.

businessinsider.com

Relevant topic timeline:

9/11/2023

Instacart Plans $9.3B IPO in September, Significantly Below Last Valuation

Instacart aims for a valuation of up to $9.3 billion in its upcoming IPO, a significant decrease from its previous funding round, with cornerstone investors agreeing to buy up to $400 million worth of shares.

9/18/2023

Instacart Prices IPO at $10 Billion Valuation As Revenue Growth Slows Post-Pandemic

Instacart, the grocery delivery company, priced its long-awaited IPO at $30 a share, valuing the company at $10 billion, and becoming the first notable venture-backed tech company to go public since 2021.