Instacart filed for its IPO yesterday (8/25), after dragging its feet since the pandemic when whispers of its debut began. What are your thoughts? I know IPOs have been hairy lately; does anyone have any plans of diving in for the long run?
Personally, I’m intrigued based on the limited on-the-ground information I have. They’re the go-to for grocery delivery I’ve noticed. At least in my circle-lots of younger folks, especially higher income young professionals, use it very frequently. Their valuation is a lot lower from what they planned during the pandemic if I remember right, but I think especially in ever-popular urban areas, they’ve got a lock on the market. Moreover, as younger folks move out to the suburbs to get cheaper housing, they’ll likely remain loyal. It’s well priced as a service and people like it-and the grocers themselves seem to love it.
Is there something I’m missing here? The most obvious threat I can think of is Uber’s continued horizontal integration across the delivery space; what is Instacart’s moat against that? Are there other serious flaws I’m not seeing or haven’t heard about? What do you guys think?
[link] [comments] https://www.reddit.com/r/stocks/comments/161vqdx/instacart_ipo_announcedwhat_do_you_think/
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