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Instacart to target valuation of up to $9.3 billion in IPO: report

Economic Times

Economic Times · 1y ago

Instacart to target valuation of up to $9.3 billion in IPO: report

Instacart is aiming for a valuation of $8.6 billion to $9.3 billion in its upcoming initial public offering (IPO), a significant drop from its $39 billion valuation in 2021. The grocery delivery service plans to disclose this valuation range in an updated IPO regulatory filing. Instacart's IPO is expected to take place in September, and it had previously considered a direct listing. In the first half of 2023, the company reported revenue of $1.48 billion and a net income of $242 million.

Related News

Instacart Founder Mehta exits startup with $1.1 bn after IPO

BQ Prime

BQ Prime · 1y ago

Instacart Founder Mehta exits startup with $1.1 bn after IPO

Instacart co-founder Apoorva Mehta is set to become a billionaire with a $1.1 billion fortune following the company's initial public offering (IPO). Mehta, who stepped down as CEO in August 2021, will remain Instacart's largest individual shareholder after the IPO. He also has a stake in his new health-tech startup, Cloud Health Systems, which aims to address chronic illness and was valued at $200 million in a 2022 financing round. Instacart priced its IPO at $30 a share, giving it a $9.9 billion valuation, and the shares jumped more than 40% on the first day of trading.

Instacart valued at $9.9 billion as IPO market rebounds

Economic Times

Economic Times · 1y ago

Instacart valued at $9.9 billion as IPO market rebounds

Instacart, the grocery delivery app, has priced its initial public offering (IPO) at the top of its range, resulting in a $9.9 billion fully diluted valuation. The IPO was priced at $30 per share, raising $660 million based on 22 million shares sold. This is a lower valuation compared to the $39 billion value assigned by investors in a private fundraising round earlier this year. The offering signifies the rebound of the US IPO market, which had been quiet until recent successful IPOs like Klaviyo and Arm.

Who is Apoorva Mehta, Instacart Co-founder who made a ₹9,100 crore exit?

Hindustan Times

Hindustan Times · 1y ago

Who is Apoorva Mehta, Instacart Co-founder who made a ₹9,100 crore exit?

Apoorva Mehta went from being an engineer at Amazon to becoming a billionaire at age 37, thanks to his innovative business idea. In 2012, Mehta founded Instacart, a platform for grocery delivery that now serves over 7.7 million customers and partners with more than 80,000 retailers in the US. The inspiration for Instacart came to Mehta when he realized that he could buy everything online except groceries. The company recently went public with an IPO valuation of $9.9 billion.

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

The Arc Web

The Arc Web · 9m ago

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

Vanguard, a U.S.-based asset management firm, recently reduced its valuation of Ola, India's ride-hailing company, to around $2 billion, down from a 2021 peak of $7.3 billion. Vanguard initially invested in Ola in 2015, valuing it at nearly $5 billion. Over the years, Ola's valuation has fluctuated, including a sharp drop to $1.9 billion in early 2024, a 74% decrease from the 2021 high. This markdown is significant, as Vanguard holds $9.3 trillion in assets and Ola is preparing for an IPO. Analysts believe Vanguard's valuation cut may influence Indian mutual funds' perceptions of Ola as it moves toward public listing.

Swiggy targets $15 billion valuation in IPO

Economic Times

Economic Times · 1y ago

Swiggy targets $15 billion valuation in IPO

Indian food delivery giant Swiggy is planning to go public with a target valuation of $15 billion as it aims to raise $1-1.2 billion. This IPO would be one of the largest in India this year. Swiggy, backed by SoftBank, competes with Zomato in the online food delivery sector and both companies are betting on the growing quick commerce trend. Swiggy plans to use the IPO funds to expand its Instamart business and increase competition with Zomato, which currently has a market valuation of around $28 billion. Quick deliveries are predicted to make up 70% of India's online grocery market by 2030.

Reddit may be targeting a $5 billion valuation for its upcoming IPO

Business Insider

Business Insider · 1y ago

Reddit may be targeting a $5 billion valuation for its upcoming IPO

Social media platform Reddit is reportedly considering going public in an initial public offering (IPO) in the first quarter of 2024. Potential investors are advising Reddit to aim for a valuation of at least $5 billion. The success of the IPO will depend on the state of the IPO market, which has faced challenges in recent years. Reddit's current target valuation signifies a departure from the previously expected sky-high valuations.

Instacart, Klaviyo, and the Art of the Unicorn Haircut

Robots · 1y ago

Instacart, Klaviyo, and the Art of the Unicorn Haircut

Instacart is expected to have a reduced valuation of over $7 billion for its upcoming IPO, marking a significant drop from its previous funding round. Similarly, Klaviyo has adjusted its IPO price range, reflecting a trend in businesses reevaluating valuations to attract investors. Meanwhile, Coinbase has opted to comply with Indian regulations rather than exit the market, emphasizing the challenges faced by crypto firms in navigating diverse regulatory environments. Additionally, a startup securing $50 million in funding aims to democratize satellite technology by enabling satellite sharing in low Earth orbit (LEO), potentially transforming multiple industries.

Grocery delivery app Instacart makes IPO filing public

Economic Times

Economic Times · 2y ago

Grocery delivery app Instacart makes IPO filing public

Grocery delivery app Instacart has reported a 31% increase in revenue for the first half of the year and filed for an IPO on the New York Stock Exchange. The company's revenue reached $1.48 billion in the six months ending June 30, with net income at $242 million compared to a $74 million loss the previous year. The profitable status could make Instacart more attractive to investors. The IPO, along with others like SoftBank-backed chip designer Arm, is expected to reinvigorate the US IPO market, which saw a downturn in 2022.

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Inshorts · 7m ago

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Lenskart is said to be hiring arrangers like Kotak Mahindra Bank and Morgan Stanley for its $1 billion IPO this year, according to a Bloomberg report. The SoftBank-backed eyewear firm may seek a valuation of about $8 billion and other banks may also join to work on the IPO, the report added. Lenskart reported ₹5,427 crore revenue in FY24.

Swiggy Cuts IPO Valuation Target To $13.5 Bn

Inc42 · 10m ago

Swiggy Cuts IPO Valuation Target To $13.5 Bn

Swiggy has lowered its valuation target for its upcoming IPO, aiming for a range of $12.5 billion to $13.5 billion. The initial target was $15 billion, but the decision to cut it was due to market volatility and the ongoing correction in the Indian stock market. Swiggy plans to list on the stock exchange on November 13, with its public issue opening in the preceding week.

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