Instacart priced its IPO at $30 a share on Monday, at the top end of the expected range of $28 to $30.
The grocery delivery company has taken a massive valuation haircut from a peak of $39 billion in 2021 as investors shifted out of risk.Instacart, the grocery delivery company that saw its business boom during the pandemic, priced its long-awaited IPO at $30 a share on Monday, and will become the first notable venture-backed tech company to hit the U.S. public market since December 2021.of $28 to $30 a share, and values Instacart at about $10 billion on a fully diluted basis.
There were 22 million shares sold in the IPO, with 14.1 million coming from the company and 7.9 million from existing shareholders. The stock is set to debut on the Nasdaq on Tuesday under ticker symbol"CART."