Instacart files to go public on Nasdaq to try and unfreeze tech IPO market
Publishing timestamp: 2023-08-25 17:37:39
Summary
Grocery delivery company Instacart plans to go public on Nasdaq, making it the first significant venture-backed tech IPO since December 2021. The company has been profitable for five straight quarters and aims to incorporate artificial intelligence and machine learning into its platform. Instacart will join other gig economy companies on the public market, but profitability has been a challenge in the industry. The company's move into AI has been driven by a series of acquisitions.
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