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Instacart IPO, Stock offering from $26 to $28 a Share  

Instacart’s much-anticipated IPO officially kicked off Monday, as the grocery delivery company revealed the price it hopes to fetch for its stock in a regulatory filing.

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The filing shows that the San Francisco company and selling shareholders aim to sell 22 million shares at $26 to $28 apiece, raising $572 million to $616 million.

The Wall Street Journal reported that roughly 331 million shares are outstanding including shares to be issued to Instacart employees and executives, which translates to a fully diluted valuation of around $8.6 billion to $9.3 billion.

  • That valuation is a far cry from the $39 billion valuation Instacart notched in a funding round in 2021.

Instacart has had a long road to becoming a publicly traded company, with its plans to list shares last year foiled by a turbulent stock market. To help ensure success for the offering, the company has lined up $400 million in commitments from large investors for the IPO.

Instacart plans to list shares and start trading on the Nasdaq next week under the ticker CART.

The company is selling 14.1 million shares in the offering, and selling shareholders are offering the remaining 7.9 million shares.

Image: Instacart