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☆ Instacart aims for valuation of up to $10 billion in upcoming IPO
▼ + stars: | 2023-09-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Fidji Simo, CEO of Instacart Inc., speaks during an interview in San Francisco, March 3, 2022. Grocery delivery platform Instacart raised its initial price range to between $28 and $30 per share in a regulatory filing Friday, aiming for a valuation of up to $10 billion. Instacart plans to offer 22 million total shares when it debuts on the Nasdaq, including from current shareholders, and could raise up to $660 million. Despite upping its price range — the day after a successful Arm Holdings debut — Instacart's valuation has plunged significantly since 2021, when it raised $265 million at a $39 billion valuation. Beyond Arm Holdings and Instacart, marketing automation firm Klaviyo and biotechnology firm Neumora are set to list soon.

Persons: Fidji Simo Organizations: Instacart Inc, Nasdaq, PepsiCo, Arm Holdings Locations: San Francisco

Arm kicked off its roadshow in Baltimore, where influential asset manager T Rowe Price is headquartered, underscoring the fund manager's significance in big IPOs. Arm disclosed the proposed range would value it at between $48 billion and $52 billion. The valuation that Arm is chasing represents a climb-down from the $64 billion valuation at which SoftBank last month acquired the 25% stake it did not already own in the company from its $100 billion Vision Fund. Jamie Mills O’Brien, portfolio manager at British fund manager Abrdn, said he found SoftBank's valuation ask in the IPO "more palatable than initially discussed." Unlike most loss-making but high-growth tech companies that debut with lofty valuations but later plummet below list price, Arm is profitable.

Persons: Group's, T Rowe Price, SoftBank, Jamie Mills O’Brien, Abrdn, Arm, Dado Ruvic, Sara Russo, Bernstein, Goldman Sachs, JPMorgan Chase, Manya Saini, Pablo Mayo, Arun Koyyur, Nick Zieminski Organizations: Arm Holdings, Rivian Automotive Inc, Sands, Cambridge, Vision, Nvidia Corp, Apple, Nvidia, Devices, Intel, Samsung Electronics, REUTERS, Acorn Computers, Apple Computer, VLSI Technology, London Stock Exchange, Nasdaq, SoftBank, Inc, Reuters, Barclays, JPMorgan, Mizuho Financial Group, underwriters, Pablo Mayo Cerqueiro, Thomson Locations: Baltimore, Arlington , Virginia, England, China, United States, Bengaluru, London, Lincoln

☆ The Executives Who Guide the Instacart CEO
▼ + stars: | 2023-04-29 | by ( Jaewon Kang | Corrie Driebusch | ) www.wsj.com time to read: 1 min

In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here. When Fidji Simo was named chief executive of Instacart Inc. nearly two years ago, the grocery-delivery company was experiencing a pandemic-driven boom.

☆ Instacart Joins ChatGPT Frenzy, Adding Chatbot To Grocery Shopping App
▼ + stars: | 2023-03-01 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

Instacart’s new search tool, “Ask Instacart,” will tap data from more than 1.5 million products stocked by some 75,000 grocery stores, said JJ Zhuang, the company’s chief architect. Mr. Zhuang described the software integration as “experimenting with what’s possible” using ChatGPT on Instacart’s app. OpenAI, a San Francisco-based software startup launched in 2015, has sought to expand its reach by easing the process of integrating ChatGPT software with outside apps. Microsoft Corp. , an OpenAI investor, last month added ChatGPT technology to its Bing search engine. Mr. Brockman said it is important for companies to consider the stakes involved in the way they plan to use ChatGPT technology.

A part-time worker for Instacart filled customer orders in New Jersey last year. Instacart Inc. generated sharply higher sales and profit in the fourth quarter, according to people familiar with the matter and an internal memo, as the company prepares for its highly anticipated initial public offering of stock. The grocery-delivery company told employees on Tuesday that its revenue increased more than 50% in the fourth quarter, compared with the same period a year earlier, while gross profit rose more than 80%, according to a memo viewed by The Wall Street Journal.

☆ Instacart to Give First Companywide Cash Bonus After Delaying IPO
▼ + stars: | 2022-11-02 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

Delivery companies such as Instacart got a boost to their business as Covid-19 began spreading in the U.S. in 2020. Instacart Inc. will pay out its first companywide cash bonuses starting in December, said people familiar with the matter, as the grocery delivery provider aims to motivate staff after delaying its initial public offering. The cash bonus is a shift in the company’s efforts to reward and retain employees. Instacart has historically given out equity rewards to boost retention.

☆ Instacart Pulls Back on Fourth-Quarter IPO Plans
▼ + stars: | 2022-10-20 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

‘We do not need a perfect market, we’re just looking for an open market window,’ Instacart Chief Fidji Simo wrote in a memo to employees. Instacart Inc. is unlikely to launch an initial public offering this year, people familiar with the matter said, as turbulent financial markets hobble demand for new listings. Fidji Simo, chief executive of Instacart, wrote in a memo Thursday to employees that tumultuous market conditions are making an IPO for the grocery-delivery company “highly unlikely” in 2022.

☆ Kroger-Albertsons Merger Would Create a Big Player in Retail Advertising
▼ + stars: | 2022-10-14 | by ( Patrick Coffee | ) www.wsj.com time to read: +5 min

It also would create a big player in so-called retail media, one of advertising’s fastest-growing sectors. Kroger and Albertsons entered the retail advertising market in 2015 and 2021, respectively. Kroger and Albertsons don’t break out the ad revenue generated by their Kroger Precision Marketing and Albertsons Media Collective divisions. The merger of Kroger and Albertsons would create a fourth market leader at more than 13% market share, Mr. Lipsman said. For marketers, that would help simplify the retail ad market for consumer-goods brands and other advertisers who currently confront a rapidly increasing number of offerings.

☆ Instacart cuts staff, curbs hiring before IPO, The Information reports
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterSmartphone with displayed Instacart logo is seen in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoSept 24 (Reuters) - Grocery delivery app Instacart Inc has been letting go staff, slowing hiring and curbing other expenses as it heads toward a public listing, the Information reported on Saturday, citing people familiar with the matter. Register now for FREE unlimited access to Reuters.com RegisterThe report added that Instacart has fired at least three senior-level employees in recent weeks but it does not include any departures from the company's top management positions. Instacart also paused hiring for various positions and managers received instructions to cap spending in areas such as travel and team gatherings, the report said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mrinmay Dey in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

, said in a statement that Drizly is one of the few places where her company can run multimedia ad campaigns. The database allows the company to charge above-market rates for ad placements, according to Mr. Patel. The company also hired Gina Hardy as its first chief customer officer to oversee all marketing operations. Mr. Patel declined to comment on specific growth goals for Drizly, but said the company sees significant potential in its advertising platform, which is independent of its parent company’s Uber Eats ad business. Drizly sales grew 517% from September 2019 to September 2021, according to market-research firm Bloomberg Second Measure.

☆ Instacart Plans to Focus IPO on Selling Employee Shares
▼ + stars: | 2022-09-19 | by ( Berber Jin | Corrie Driebusch | ) www.wsj.com time to read: 1 min

Instacart Inc. doesn’t plan to raise much capital in its initial public offering and instead plans to have most of the listing come from the sale of employees’ shares, said people familiar with its thinking. In meetings with prospective investors in recent weeks, Instacart executives said they didn’t plan to issue many new shares in their IPO, the people said. The sale of mostly employee shares would allow Instacart’s staff, including some of its earliest hires, to at last cash out of some of the shares they have been accumulating.

☆ Instacart plans to focus on selling employees' shares in IPO, Wall Street Journal reports
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterSept 19 (Reuters) - Grocery delivery app Instacart Inc does not seek to raise much capital in its U.S. initial public offering and instead plans to focus on the sale of employees' shares, the Wall Street Journal reported on Monday, citing sources familiar with the matter. The report added the sale of mostly employee shares would allow Instacart's staff, including some of its earliest hires, to cash in on of some of the shares they have been accumulating and also help the company retain talent. Register now for FREE unlimited access to Reuters.com RegisterThe shares will be sold directly to new investors at an agreed-upon price ahead of a stock-market debut, according to the WSJ report. Instacart said in May it had confidentially filed with the U.S. securities regulator to go public, not long after slashing its valuation by 40% following market turbulences. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Praveen Paramasivam in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

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