https://tokenist.com/instacart-seeks-a-10b-valuation-after-arms-successful-ipo-report/
Instacart is reportedly planning to increase its IPO target price range to $28–$30 per share, potentially valuing the company at nearly $10 billion. This comes in the wake of chipmaker Arm's successful IPO, which rejuvenated investor optimism in new listings. Arm's share price jumped over 25% on its debut day, elevating its market cap to around $65 billion and sparking a renewed interest in the startup and IPO market.
While the revised IPO target for Instacart is significant, it's worth noting that this is still a reduction from the company's $39 billion valuation in 2021. The grocery delivery giant, which has secured over $2 billion in venture capital across more than 19 rounds, appears to be strategically capitalizing on the current uplift in market sentiment. The move indicates a cautious but optimistic approach, balancing market trends with Instacart's own financial history and goals.
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