Instacart Is Reportedly Aiming for Valuation of $8.6 Billion to $9.3 Billion in IPO

The grocery delivery company Instacart is aiming to go public at a valuation between $8.6 billion and $9.3 billion, according to reports.

Instacart is expected to officially disclose its expected valuation range on Monday, a person familiar with the matter told Reuters. The Wall Street Journal was the first to report on the valuation target on Sunday.

Instacart’s valuation could still change as it sets out to market its IPO to investors, the WSJ report said, but the initial figures reflect a striking departure from what the company was worth in the past. As public stocks dipped around March of last year, Instacart cut its valuation from $39 billion to $24 billion. The valuation reportedly fell by another 50% by late 2022.

Read the source article at CNBC