Instacart shares start trading on Nasdaq at $42, valuing grocery delivery company at about $14 billion

Instacart shares popped 40% in their Nasdaq debut on Tuesday, opening at $42, after the grocery-delivery company's long-awaited IPO. The offering late Monday at $30 a share valued Instacart at about $10 billion on a fully diluted basis, down from a private market valuation of $39 billion at the height of the Covid pandemic in early 2021. The opening price lifted its valuation to about $14 billion. Instacart is the first notable venture-backed company in the U.S. to go public since December 2021, and its performance is being closely tracked...