NEW YORK, Sept 20 ― US grocery delivery startup Instacart surged in its stock market debut yesterday, gaining more than 30 per cent in a sign of revived Wall Street appetite...
NEW YORK, Sept 20 ― US grocery delivery startup Instacart surged in its stock market debut yesterday, gaining more than 30 per cent in a sign of revived Wall Street appetite for IPOs.
That equates to a market value of around US$11 billion, well below the US$39 billion in 2021 during a capital raise when sales were lifted by Covid-19 lockdowns. Instacart had announced on Monday night that it would be introduced to the market at a price of US$30 a share, at the high end of a range disclosed previously by the company.
Investors are also awaiting the Wednesday premier of Klaviyo, which specialises in automated marketing through emails and text messages.
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