Instacart Mulls IPO Price Hike After Arm's Stellar Debut: Targeting $10B Valuation
Portfolio Pulse from Anusuya Lahiri
Instacart is considering revising its IPO target price upwards to $28 - $30 per share, following the successful IPO debut of Arm Holdings Plc. The company's shares are expected to start trading on the Nasdaq exchange under the ticker 'CART'. If the higher pricing is pursued, Instacart's fully diluted valuation could reach nearly $10 billion. This decision reflects the growing investor appetite for IPOs. The company's revenue grew by 31% to $1.5 billion, with advertising and other businesses contributing to about 24% of this growth.
September 15, 2023 | 10:19 am
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Arm Holdings Plc's successful IPO debut has influenced Instacart's decision to revise its IPO target price upwards. Arm's shares surged 25% on the first day of trading.
The successful IPO debut of Arm Holdings Plc, with its shares surging 25% on the first day, has influenced Instacart's decision to revise its IPO target price upwards. This indicates that Arm's performance is being closely watched by other companies planning their IPOs, and its success could potentially boost investor confidence in the IPO market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50