Instacart Targets Less Than $10B Valuation In Upcoming IPO, Significantly Lower Than Previous Funding Round
Portfolio Pulse from Benzinga Neuro
Online grocery delivery company, Instacart, is targeting a valuation between $8.6 billion to $9.3 billion in its upcoming IPO, a significant decrease from its previous worth. The shares are expected to start trading on the Nasdaq exchange under the ticker 'CART'. The IPO valuation is a stark contrast to the nearly $39 billion Instacart secured in a 2021 fundraising round, reflecting a broader trend of falling valuations for high-growth startups.
September 11, 2023 | 7:00 am
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Instacart is targeting a lower valuation for its upcoming IPO, which could impact investor sentiment and the initial trading price of its shares.
Instacart's lower target valuation for its IPO compared to its previous worth could be seen as a negative signal by investors, potentially leading to a lower initial trading price for its shares. This could impact the short-term performance of the stock.
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