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