TECH - Instacart CEO Details Future Plans Strategy Amid IPO Buzz: Indications Suggest $42 Open For Shares | Benzinga
Instacart is set to debut on the Nasdaq under the symbol "CART" Tuesday following the announcement of its initial public offering (IPO) price at $30 per share.
The IPO, totaling 22 million shares, includes 14.1 million being sold by Instacart and 7.9 million by particular selling shareholders.
Current indications point to Instacart opening trade at $42, up from the $30 IPO.
With a growth of about 590% in sales during 2020, driven largely by the pandemic, Instacart's move to go public comes after several years of anticipation. The company's valuation had previously soared to $39 billion in its latest funding round.
Instacart's ...