Instacart controls about 22% of the $132 billion U.S. online grocery-delivery market, according to Evercore. The company said it had 5.1 million users as of June 2023.
Arm CEO Rene Haas discusses the chip design company's NASDAQ debut and explains why the stock was priced at $51 a share on 'The Claman Countdown.' on Friday and is now targeting a fully diluted valuation of up to $10 billion after Arm Holdings' strong market debut.
The grocery delivery app said it is now seeking to sell 22 million shares at $28 to $30 each, compared to an earlier price range of $26 to $28 per share. The IPO's top end will now fetch $660 million compared with the earlier target of $616 million. Despite the increased valuation, the total is just one-fourth of the $39 billion it was worth after its last funding round more than two years ago.The company plans to trade on the Nasdaq under the ticker CART.
Instacart controls about 22% of the $132 billion U.S. online grocery-delivery market, according to Evercore. The company said it had 5.1 million users as of June 2023, up from 4.6 million in the year-ago period.
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