The San Francisco-based company filed paperwork Friday with the U.S. Securities and Exchange Commission. The IPO is expected to happen in the next few weeks.
The IPO is a long-awaited step for Instacart, which was founded in 2012. The company filed privately for an IPO in May 2022 but delayed those plans last fall when the markets were roiling due to recession fears. There were just 71 IPOs in the U.S. last year, the lowest number since 2009, according to Renaissance Capital.
Founded in 2012, Instacart provides delivery from 85% of U.S. grocers. The company says it has 7.7 million active customers who spend about $317 per month on Instacart.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: