- Instacart went public on Tuesday after raising $660 million in its IPO. Shares opened at $42 per share.
- Many of Instacart’s executives, founders, and investors stand to make millions.
- Instacart’s cofounder Apoorva Mehta and CEO Fidji Simo’s stakes are worth $1.2 billion and $21.6 million.
After a long lull in the IPO market, Instacart has jumped in as one of the first companies to break the tech IPO drought of the past two years and go public.
The online grocery delivery startup, founded in 2012 by Apoorva Mehta, Brandon Leonardo, and Max Mullen and currently led by CEO Fidji Simo, has been preparing for this day for nearly two years, as it waited out a shaky market that had made it less desirable to go public.
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