Online grocery firm Instacart seeks up to $9.3 billion valuation in IPO
Publishing timestamp: 2023-09-11 11:28:48
Summary
Instacart has set an offer price of between $26 and $28 for its upcoming IPO. The company aims to raise up to $616 million in fresh capital and could be valued at up to $9.3 billion. Instacart will issue 22 million shares, with 14.1 million newly issued shares and 7.9 million shares from selling stockholders. The IPO will make Instacart one of the largest public flotations this year, competing with traditional retailers and tech firms like Amazon, DoorDash, GoPuff, and Grubhub.
Sentiment: NEUTRAL
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