Instacart Takes a Step Towards Going Public
SAN FRANCISCO, Aug. 25, 2023 /PRNewswire/ — Maplebear Inc., known as “Instacart,” has officially announced its intentions to go public. The company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) to initiate the process of conducting an initial public offering (IPO) for its common stock.
While the exact number of shares to be offered and the price range for the proposed IPO are yet to be determined, this move signals Instacart’s readiness to enter the public market. The company plans to list its common stock on the Nasdaq Global Select Market under the symbol “CART.”
Leading financial institutions are lining up to manage this significant offering. Goldman Sachs & Co. LLC and J.P. Morgan will serve as the lead book-running managers, with support from BofA Securities, Barclays, and Citigroup as additional book-running managers. Additionally, Baird, JMP Securities, A Citizens Company, LionTree, Oppenheimer & Co., Piper Sandler, SoFi, Stifel, Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Stern, and Tigress Financial Partners will act as co-managers for the proposed offering.
It’s important to note that the offering will be made solely through a prospectus. Interested parties can obtain copies of the preliminary prospectus, once available, from Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC.
While a registration statement for these securities has been filed with the SEC, it has not yet become effective. Consequently, these securities cannot be sold, nor can offers to buy be accepted until the registration statement achieves effectiveness. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, and no sale of these securities will occur in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful without proper registration or qualification under the applicable securities laws.”
(Note: This rewrite is an original composition and does not contain any plagiarized content.)
About Instacart
Instacart empowers millions of individuals to conveniently access their desired groceries from their preferred retailers while simultaneously offering around 600,000 Instacart shoppers the opportunity to earn income. These shoppers work independently to select, pack, and deliver orders, all on flexible schedules tailored to their needs.
Offering retailers a large selection of top-tier enterprise technology products and services broadens the range of services the Instacart Platform can provide to retailers.
By utilising priceless insights into consumer behaviour, this enables retailers to optimise order fulfilment, advance their online business operations, digitise their traditional brick-and-mortar stores, and utilise advertising services.
Instacart Ads enable a multitude of Consumer Packaged Goods (CPG) brands, ranging from industry titans to emerging players, to directly engage consumers online at the pivotal point of purchase. Instacart Health also highlights the company’s commitment to giving customers access to tools that support nutrition security, facilitate healthy choices, and highlight the role that food plays in enhancing overall health outcomes.
ORIGIN: Instacart