Instacart Goes Public at $11B Valuation After Turning First Profit

Instacart started trading at $42 per share, giving it a market valuation of over $11 billion. This is down from $39 billion valuation in 2021.
Instacart recently began generating a profit after years of losses. It had $242 million in profit for the first half of 2023.
Instacart faces increased competition from Amazon, Walmart, and other emerging delivery companies.
Instacart has introduced new offerings like faster deliveries to broaden services for retail partners.
Investors may give Instacart a warm reception, following the successful IPO of UK chip designer Arm last week.

cnn.com

Relevant topic timeline:

8/25/2023

Instacart files to go public on Nasdaq to try and unfreeze tech IPO market

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.

9/10/2023

Instacart Plans Lower Valuation IPO, First Major Tech Listing Since 2021

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.

9/15/2023

Instacart IPO Plans Show Comedown for Investors from Pandemic Highs

Sequoia Capital and Andreessen Horowitz are expected to face significant losses on their investment in Instacart, as the company plans to sell shares at a valuation that is more than 75% below the price at which the venture firms invested.

9/19/2023

Instacart Shares Jump 43% in IPO Before Settling at 12% Gain, Valuing Grocery Delivery Firm at $11B

Online grocery delivery business Instacart saw a 43% jump in its Nasdaq trading debut, valuing the company at around $11bn, as it continues to expand beyond its core business of grocery delivery into advertising and technology services.

9/19/2023

Instacart Shares Jump on First Day of Trading Despite Fierce Competition in Grocery Delivery

Instacart's stock market debut was successful, with shares surging 12.3% and giving the company a market value of over $11 billion, as the grocery delivery company faces increasing competition from tech companies and grocers themselves.

9/20/2023

Instacart Shares Drop as IPO Excitement Fades Amid Economic Concerns and Changing Consumer Habits

Instacart shares fall 5% as the grocery delivery app struggles to maintain strong gains on debut amid concerns of inflation and higher interest rates.

9/20/2023

Stocks on the Move: Instacart Falls, Steelcase Soars After Earnings Beat, Klaviyo Jumps in IPO, Bausch Up on Upgrade, Stellantis Gains on Europe Sales

Instacart shares fall after going public, Steelcase soars on strong earnings, Klaviyo jumps after IPO, Bausch Health surges on upgraded rating, Stellantis sees sales growth in Europe, Pinterest rallies on revenue growth expectations, Coty raises full-year outlook, Zebra Technologies downgraded, Textron signs deal with NetJets, Chewy downgraded on pet category weakness, and various other companies see stock movements.

9/20/2023

Instacart Stock Drops 13% After IPO As Competition Concerns Grow

Instacart's stock price is falling on its second day of trading as an analyst raises concerns about competitive pressures.