Instacart Prices IPO At $30 Per Share, Valuing The Online Grocery Platform At Nearly $10B
Portfolio Pulse from Adam Eckert
Instacart has priced its initial public offering (IPO) at $30 per share, valuing the company at nearly $10 billion. The IPO comprises 22 million shares, with 14.1 million being sold by Instacart and 7.9 million by certain selling stockholders. The shares are expected to start trading on the Nasdaq under the symbol 'CART' on Tuesday. The company's valuation has been deemed reasonable by Renaissance Capital's Matt Einhorn, who compared Instacart to DoorDash Inc.
September 19, 2023 | 1:41 am
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POSITIVE IMPACT
Instacart's IPO pricing at the top end of the expected range indicates strong investor interest. The company's valuation is deemed reasonable, suggesting a positive market reception.
The IPO pricing at the top end of the expected range indicates strong investor interest. The company's valuation, deemed reasonable by an analyst, suggests that the market may react positively to the IPO.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Instacart's IPO and its comparison to DoorDash may draw investor attention to DoorDash. However, the comparison also highlights DoorDash's higher valuation, which could be a concern.
Instacart's IPO and its comparison to DoorDash may draw investor attention to DoorDash. However, the comparison also highlights DoorDash's higher valuation, which could be a concern for some investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50