The grocery delivery app targets a valuation between $7.7 billion to $7.8 billion, far below its valuation of $39 billion set in a fundraising round in 2021.
Grocery delivery app Instacart set a target valuation Monday that was way below its prior funding round in 2021, a sign of companies treading carefully as they test investor appetite for new listings.
The San-Francisco based firm also said after the offering its total common stock outstanding will be 276 million or 279.3 million if underwriters choose to exercise an option to purchase additional shares. This makes for a valuation of $7.7 billion to $7.8 billion, far below its valuation of $39 billion set in a fundraising round in 2021.
Instacart, British chip designer Arm and automation platform Klaviyo are all setting the stage for what investors believe could be a wave of IPOs in the coming months—possibly with lower equity valuations than they could command earlier. Arm debuts this week and has said that the IPO could garner up to $4.87 billion in fresh capital.
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| Instacart to Target Much-Diminished Valuation Range of Under $10 Billion in IPOThe grocery-delivery company aims for $8.6 billion to $9.3 billion, down from $39 billion in 2021.
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| Instacart to Target Much-Diminished Valuation Range of Under $10 Billion in IPOThe grocery-delivery company aims for $8.6 billion to $9.3 billion, down from $39 billion in 2021.
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