Instacart's Valuation Plummets As It Gears For IPO

Instacart's latest valuation is significantly lower than what the company was worth just a year ago, as it navigates the challenging landscape of online delivery while preparing for an initial public stock offering, as reported by Jordan Valinsky for CNN.

When Instacart starts trading on the Nasdaq, its ticker symbol will be "CART." I Photo: Instacart Careers

The grocery delivery company disclosed in an updated IPO filing that it intends to set the price of its stock between $26 and $28 per share, resulting in an approximate valuation of Instacart at $7.4 billion at the midpoint.

Considering restricted stock, options, and warrants, the company could be valued as high as $9.3 billion. When Instacart starts trading on the Nasdaq, its ticker symbol will be "CART."

However, it's not all negative news for the company.

Instacart stated in its filing on Monday that it has a "history of losses," but it has "recently started to generate a profit." For the first half of 2023, it reported a profit of $242 million, compared to a loss of $74 million during the same period the previous year.

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