One of the top food delivery services in the US, Instacart, plans to go public in September. By doing so, it hopes to draw in new investors and raise money for development.
Instacart, which was founded in 2012, has quickly risen to the top of the grocery delivery industry. To provide clients with door-to-door grocery delivery, the business has teamed up with numerous significant merchants, including Walmart, Costco, and Safeway. Due to the COVID-19 pandemic, there has been an enormous increase in the need for grocery delivery services. Instacart has been able to accommodate this demand by expanding its customer base.
Over 40K affiliate stores and over 500K monthly active users make up Instacart. The business brings in more than $10 billion annually. With such a strong financial standing and room for expansion, Instacart is a desirable investment for investors.
Through the IPO, Instacart will be able to raise more money to support the company’s future growth. The money obtained from the sale of shares can be used to increase the delivery service, create new technologies, and cover more ground geographically. In the end, the IPO will support the company’s continued success and help it solidify its place in the market.