A shopper prepares to fill her shopping cart at a Giant supermarket in Washington, DC, April 6, 2020.
Evelyn Hockstein / The Washington Post via Getty Images)
Grocery delivery platform Instacart said late Wednesday it had filed a draft registration statement with the U.S. Securities and Exchange Commission (SEC), paving the way for the company to list its shares. me.
Grocery delivery company valued at $39 billion in March 2021, when it raised $265 million. That made Instacart one of the most valuable venture-backed companies in America at the time.
In March, however, it said it had slashed its valuation by nearly 40% to about $24 billion, to reflect the sell-off in tech stocks this year.
The development comes at a volatile time for tech stocks in the US this year, with the Nasdaq down nearly 30% from last November’s high.
