Instacart Files to Go Public -- Here's What We Know So Far
During the pandemic-induced lockdowns, many consumers avoided public places and relied on delivery companies to bridge the gap. One of the primary beneficiaries was grocery delivery start-up Maplebear, doing business as Instacart. The app-based service allows people to order products via its app and employs shoppers to take care of the rest. The company quickly became a staple, becoming the third-most-popular online grocery site behind just and Amazon.
Instacart originally planned its initial public offering (IPO) in 2022 after a surge in pandemic-era customers initially helped the company scale and turn a profit. However, activity in the IPO market slumped last year in the wake of the worst downturn in more than a decade, and Instacart shelved its plans to go public.
In recent months, however, the stock market rebound, easing inflation, and improving economic conditions have boosted Wall Street's mood. Start-ups have begun to test the water, and Instacart has once again filed to go public. Here's what we know so far.
Source Fool.com
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