News Formal

Instacart's IPO surges as the grocery delivery company goes from the supermarket to the stock market

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

Instacart's shares surged Tuesday in the grocery delivery company’s stock market debut. The San Francisco-based company's shares were up about 30% shortly after they started trading on the Nasdaq stock exchange under the ticker symbol “CART.” Instacart raised $660 million in its initial public offering, selling 22 million shares at $30 apiece. The pricing of the IPO gave Instacart a market value of around $10 billion, significantly lower than the $39 billion value placed on it after a fund-raisi

Instacart's shares surged Tuesday in the grocery delivery company’s stock market debut.

Instacart provides delivery and pickup from 85% of U.S. grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It also provides in-store technology, like smart carts and electronic shelf tags, and sells online ads to food companies and retailers.In a letter to investors earlier this month,said grocery delivery has tremendous potential. The U.S. grocery market is a $1.1. trillion industry, but only 12% of sales are made online.

That market is also increasingly competitive. Instacart faces growing pressure from companies including Uber Eats and DoorDash, which both began delivering groceries in 2020. Some grocers have unwound partnerships with Instacart or built up their own delivery capability. H-E-B, a Texas chain, encourages customers to shop on its own site, not Instacart’s, if they want lower-cost delivery, Bishop said. Other big grocers, like Walmart and Target, also do their own deliveries.

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 47. in RU
 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stocks slide ahead of Fed meeting, Instacart IPO: Stock market news todayStocks fell on Tuesday as the Federal Reserve was set to begin its latest policy meeting.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Stocks slide as Fed meeting begins, Instacart IPO: Stock market news todayStocks fell on Tuesday as the Federal Reserve was set to begin its latest policy meeting.
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Instacart’s Long-Awaited IPO to Test CEO’s Pivot, Market Rebound(Bloomberg) -- Online grocery startup Instacart has been flirting with an initial public offering for years and is finally set to take the plunge Monday in another bellwether listing for a still-anxious market.Most Read from BloombergMGM Resorts Hackers Broke In After Tricking IT Service DeskHow Auto Executives Misread the UAW Ahead of Historic StrikeEurope Is Better Prepared If Trump Wins Again, Germany’s Baerbock SaysUS, Chinese Officials Meet in Malta in Bid to Keep Channels OpenHouse Republi
Источник: YahooFinanceCA - 🏆 47. / 63 Прочитайте больше »

Instacart’s Long-Awaited IPO to Test CEO’s Pivot, Market ReboundOnline grocery startup Instacart has been flirting with an initial public offering for years and is finally set to take the plunge Monday in another bellwether listing for a still-anxious market.
Источник: BNNBloomberg - 🏆 83. / 50 Прочитайте больше »