The listing is one of a modest run by technology firms, but comes with warnings for investors who valued the company much more highly than the public market.
Instacart’s shares closed up 12 per cent in their Nasdaq debut on Wednesday, a sign of public markets easing open to new companies after the effective closure of fresh listings for most of the last two years.
The modest run of listings has buoyed the Australian venture capital industry but comes with a warning because Instacart’s public valuation is about a quarter of what investors deemed it worth as a private company. The companies listing this month, Mr Holt noted, were large, established, quick growing and profitable or close to it.
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