Instacart Prices IPO at $30 a Share, Valuing Grocery Delivery Company at About $10 Billion

Grocery delivery giant Instacart has priced its long-awaited IPO at $30 per share, valuing the company at around $10 billion on a fully diluted basis. The offering, which came in at the top end of the expected range, marks the first significant venture-backed tech IPO in the U.S. since December 2021. Instacart, which experienced a boom in business during the pandemic, had to significantly reduce its stock price to make it attractive for public market investors.