Instacart, the grocery delivery company, has filed for an IPO, reporting profitable quarters and revenue of $716 million, with plans to create an omnichannel experience merging online and in-store shopping.
Main topic: Grocery delivery company Instacart and marketing and data automation startup Klaviyo file IPO plans in 2023.
Key points:
1. Instacart has experienced fluctuations in valuation but reveals profitability with $1.48 billion in revenue in H1 2023.
2. Klaviyo is profitable, with a 51% increase in revenue in the most recent quarter.
3. Both companies are seen as potential indicators of a rebound in the startup IPO market.
Instacart's IPO filing reveals the company's profitability in 2022, driven by increased productivity through batching orders, although gig workers have reported doing more work for the same pay.
Instacart, an online grocery delivery service, is planning to go public in a slow IPO market, but an analyst from Gordon Haskett expresses concerns.
Instacart is aiming to go public at a valuation between $8.6 billion and $9.3 billion, marking a significant change from its previous valuation, as it looks to reignite the IPO market.
Instacart and Arm have both set lower valuations for their upcoming IPOs, reflecting investor caution as the market for IPOs remains challenging.
Stock futures point to lower opens after a strong rally, while oil remains above $90 per barrel; Adobe sees price target hikes but stock is down; United Auto Workers goes on strike; Arm's IPO success benefits banks; Instacart raises proposed price range for IPO; DoorDash transfers stock listing to Nasdaq; HSBC initiates coverage on Microsoft, Oracle, and Salesforce; China's retail sales exceed expectations; Estee Lauder stock rises.
Instacart has raised its target valuation to $10 billion, with plans to offer 22 million shares priced between $28 and $30 each on Nasdaq, while also securing a $175 million investment from PepsiCo.
Marketing automation firm Klaviyo is in talks to raise the price range of its upcoming IPO due to strong investor demand, with the IPO being nearly 20 times oversubscribed.
Instacart is set to debut its IPO on Tuesday, raising questions about whether its stock will soar or plummet.
U.S. stocks remained stable as investors anticipated the outcome of the Federal Reserve's September meeting, while the pan-European Stoxx 600 index fell due to various negative factors including the departure of Lonza's CEO and Societe Generale's cost-cutting plans; in other news, Instacart priced its IPO at $30 per share, valuing the company at around $10 billion, and strikes in the U.S. have caused the highest number of lost labor hours in decades.
U.S. futures inch higher ahead of the Federal Reserve meeting, Instacart prices its IPO at the top-end of the range, and the UAW warns of more U.S. plant closures if negotiations with automakers show no progress.
The IPO market shows signs of revival with the success of Instacart and Arm IPOs, indicating that investors still have an appetite for stocks.
Instacart prices its IPO at $30 a share, potentially opening higher than expected.
Instacart's successful IPO debut as Maplebear doesn't ensure its future strength, especially considering its "low float" which poses additional risks for investors.
Instacart's stock falls below its IPO price, reflecting investor disappointment with the grocery-delivery company and other recent tech stocks.
Wall Street's reaction to recent tech IPOs, including Instacart, Arm, and Klaviyo, has been underwhelming, with investors who bought at the IPO price making money only if they sold immediately, raising concerns about valuations.
Instacart's IPO marks a significant moment for the tech industry and its employees, attracting attention from other late-stage tech firms as a gauge for the openness of the IPO market.
Instacart stock is facing challenges and falling below its IPO price due to concerns raised by Wall Street analysts about the company's future prospects.
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