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...The move suggests optimism that Instacart can rally on the public markets....
...He has also taken independent board positions at Klarna and Instacart, and is a senior adviser to Sequoia Heritage, a wealth management fund independent from Sequoia Capital....
...On Thursday, a “lock up” of about 280mn Instacart shares will expire, meaning the shares will be eligible to trade....
...Shares rose 4 per cent in after-hours trading on Wednesday with Instacart also announcing a $500mn share buy-back....
...This week, Uber unveiled a partnership with Instacart, which will allow the grocery delivery group’s US users to order from restaurants listed on Uber Eats....
...Read more about Instacart’s IPO here....
...“The number one reason people use Instacart is convenience,” its chief executive, Fidji Simo, declared to investors....
...Instacart has raised the estimated price range for its initial public offering, in the latest sign of a warming market for US flotations....
...If readers have thoughts on Instacart, we’d be very keen to hear them....
...But Instacart’s supposed optimism is not quite the triumph that it might first seem....
...Instacart is looking for ways to insert itself into the lives of shoppers who prefer to buy their groceries in person....
...Shares in grocery delivery group Instacart jumped on their first day of trading, in the latest sign of investor appetite for new listings....
...Previously, Instacart had sought between $26 and $28 per share, equivalent to about a $9.3bn value for the company....
...The public debut by San Francisco-based Instacart is expected to add momentum to a gradually warming IPO market....
...With Instacart, Wall Street is about to be treated to a down-round IPO....
...Last year, Instacart made $428mn in net income on $2.55bn of revenue....
...Klaviyo was founded in 2012, the same year as Instacart, and had been regarded as an IPO candidate before the market turned in 2021....
...The IPO will float just 8 per cent of Instacart stock, raising $660mn....
...The price is at the top end of the $28-to-$30-per-share range Instacart gave investors last week and values the San Francisco-based group at $8.3bn....
...Her success in guiding Instacart’s stock market performance is tied closely to her pay....
...Instacart, Klaviyo and Arm were evidence that “the IPO window is open — even if a crack by historical standards”, said Peter Hébert, co-founder of venture firm Lux Capital....
...One person working on the Instacart deal said the company was a good fit for retail investors, given the crossover between Instacart and SoFi’s relatively young and affluent customer bases....
...Firms including Sequoia, T Rowe Price, Fidelity and Andreessen Horowitz that invested a combined $265mn in Instacart in 2021 saw that investment collapse by 75 per cent....
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