From Valuation Peaks to Public Listing, Grocery Delivery Service Instacart Charts Its IPO Path

Instacart Inc is reportedly gearing up for a public debut. The titan in online grocery delivery in the U.S. is contemplating an initial public offering (IPO) by September.

The grocery delivery and pick-up service provider might roll out its IPO plans to the U.S. SEC by next week. These moves suggest a renewed interest in U.S. listings in the market. Bloomberg cites familiar sources.

A Glance Back

Interestingly, this isn't the first time Instacart Inc. has hinted at going public. In 2022, they announced a confidential filing with the SEC coupled with news that the firm partnered with financial giants like Goldman Sachs Group Inc GS and JPMorgan Chase & Co JPM. However, plans took a backseat as the IPO market saw a downturn, prompting the company to reassess its valuation figures and delay the IPO.

The Financial Landscape

The company had earlier gauged its valuation at $24 billion, which it revised to around $13 billion. Nevertheless, their journey from startup to this juncture saw them amass an impressive $2.74 billion, with a valuation peak in 2021 at $39 billion. Esteemed investment groups backing Instacart include Tiger Global Management, Coatue Management, and D1 Capital Partners.

U.S. IPO Scenario

Instacart's listing could breathe life into a simmering market. Another notable IPO on the horizon is by chip manufacturer Arm Ltd, principally held by SoftBank Group Corp SFTBF SFTBY, aiming to accumulate between $8 billion - $10 billion, potentially the largest IPO this year.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.