Instacart, the grocery delivery company, aimed to go public Tuesday for $30 a share — valuing the company at $9.9 billion — a whopping 74% below its peak private market valuation.
When its shares began trading Tuesday, they opened at $42 a share — valuing the company at $14 billion. This 40% opening pop strikes me as bullish for reopening the IPO market. However, it still represents a 64% discount from Instacart’s peak valuation of $39 billion in 2021.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased