Instacart Just Filed for Its IPO and Revealed a Plan To Sell $175 Million in Stock to PepsiCo
August 30, 2023
Instacart has moved a step closer to its IPO by filing a prospectus detailing its business and IPO plans, indicating its intention to trade under the ticker “CART” on the NASDAQ Global exchange. The company, which has explored going public in recent years, also revealed that it will sell $175 million in Series A preferred stock to PepsiCo as part of a private placement. Instacart has partnerships with over 1,400 retail, convenience store, and grocery brands, working with 80,000 stores and boasting 5.1 million Instacart+ members as of June 30, 2023.
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