Instacart is the first notable venture-backed tech company to hit the U.S. public market since December 2021.
The grocery delivery company, once valued at $39 billion, has a fully diluted valuation of about $14 billion at its opening price.shares popped 40% in their Nasdaq debut on Tuesday, opening at $42, after the grocery-delivery company's long-awaited IPO. The offering late Monday at $30 a share valued Instacart at about $10 billion on a fully diluted basis, down from a private market valuation ofat the height of the Covid pandemic in early 2021. The opening price lifted its valuation to about $14 billion.
Instacart is the first notable venture-backed company in the U.S. to go public since December 2021, and its performance is being closely tracked by venture firms and late-stage startups that have been waiting for investors' risk appetite to return. The Nasdaq has rebounded this year after a dismal 2022, but companies that went public before the downturn are still trading at a steep discount to their peak prices. Software developer Klaviyo is expected to hit the market soon.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: NBCPhiladelphia - 🏆 569. / 51 Leer más »