Instacart to target reduced valuation of $8.6 billion to $9.3 billion in IPO, reports say.
Instacart's valuation could still change as it sets out to market its IPO to investors, the WSJ report said, but the initial figures reflect a striking departure from what the company was worth in the past. As public stocks dipped around March of last year, Instacart cut its valuation from $39 billion to $24 billion. The valuation reportedly fell by another 50% by late 2022.
Instacart's business boomed during the Covid-19 pandemic as consumers tried to avoid crowded public places. But as shoppers returned to stores, profitability has proved to be a persistent challenge. According to the company's website, Instacart shoppers and drivers deliver goods in over 5,500 cities from more than 40,000 grocers and other stores.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
| 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.
Read more »
| 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.
Read more »
Instacart to target valuation of up to $9.3 billion in IPO -source By ReutersInstacart to target valuation of up to $9.3 billion in IPO -source
Read more »
The Natural-Born Diplomat Behind This Year’s Biggest IPOThe American CEO of Arm, a British company owned by a Japanese tech conglomerate,must juggle the needs of chip-making customers who are battling each other.
Read more »
PodcastOne IPO Collides With Viral Takedown Video From Comedian Theo VonSpinoff of LiveOne falls nearly 50% one day after Von goes public with Kast Media allegations
Read more »
Car-sharing service Turo restarts IPO plans for fallAfter a delay, Turo car-sharing business appears to be planning on going public this fall. It was valued in 2019 at a little over $1 billion.
Read more »