Instacart Prices IPO at $30 a Share, Valuing Grocery Delivery Company at About $10 Billion
September 19, 2023
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.
Recent News
Kentucky Derby Celebration Spots in Las Vegas and Goldbelly Home Delivery
Las Vegas, though miles away from Louisville, gears up for the Kentucky Derby with a range of special offerings. From viewing parties to themed cocktails, the city joins the celebration of the sesquicentennial Run for the Roses. If you’re a resident of Kentucky, you can get Ready for the Kentucky Derby with Goldbelly.
New Nintendo Theme Park to Open in Orlando
It’s set to open in 2025.
Novo Noradisk Announces $6B Investment in Ozempic, Wegovy Amid Shortages
The money will help meet increased demand for the drugs.
EV Battery Tax Credit Rules Change in the US
The U.S. government has made some tweaks to electric vehicle (EV) tax credits, possibly paving the way for more EVs to qualify for credits of up to $7,500. These tax credits range from $3,750 to $7,500 for new EVs, with a $4,000 credit available for used ones.