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 plans to raise up to $616 million in its upcoming IPO, valuing the company at around $7.7 billion, as it aims to compete with traditional retailers and tech firms like Amazon, DoorDash, and Grubhub in the online grocery delivery market.
Instacart and Arm have both set lower valuations for their upcoming IPOs, reflecting investor caution as the market for IPOs remains challenging.
Instacart is set to debut its IPO on Tuesday, raising questions about whether its stock will soar or plummet.
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 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.
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.
Birkenstock Holding is set to go public at a $10 billion valuation after securing enough investor commitments to price its U.S. IPO at the top of its indicated range, potentially raising $1.58 billion.
