Instacart Soars Up to 43% in Debut After $660 Million IPO

Posted on AllSides September 19th, 2023
From The Left

Online grocery delivery business Instacart jumped as much as 43% in its trading debut, adding momentum to a rebound for initial public offerings. Instacart’s shares opened trading Tuesday at $42 each after selling for $30 at the top of a marketed range to raise $660 million for the year’s fourth-biggest US IPO. The shares were up 31% to $39.21 at 1 p.m. in New York, giving the San Francisco-based company a market value of $10.9 billion. Instacart’s valuation rises to about $13 billion on a fully diluted basis. That’s a...

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