Instacart goes from the supermarket to the stock market, raising $660 million with its IPO

Instacart is heading from the supermarket to the stock market. The San Francisco-based grocery delivery company raised $660 million in its initial public offering of stock, selling 22 million shares . Its shares were set to begin trading Tuesday on the Nasdaq stock exchange under the stock symbol “CART.” The pricing of the IPO gave Instacart a market value of around $10 billion, significantly lower than the $39 billion value placed on it after a fund-raising round in 2021. Instacart provides delivery and pickup from 85% of U.S. grocers, or...