But juxtapose this with the dizzying $39 billion valuation following a private funding round in 2021, and the market’s volatile temperament shines through. The once-soaring valuations of budding tech giants have felt gravity’s pull, with rising interest rates playing the omnipotent villain.
Instacart’s Stock Market Debut: ‘CART’ On The Roll
The big week for Instacart is on the horizon. The Nasdaq awaits the arrival of shares branded with the symbol “CART”, primed to price in the week starting September 18. This comes post a strategic marketing roadshow, the final destination of which is an IPO price molded by investor feedback.
The tech terrain is abuzz with anticipation. Fellow tech tycoon, British chip designer Arm Ltd., too, is on the cusp of pricing an IPO, one that could overshadow the rest with a massive $4.7 billion, potentially becoming 2023’s star listing. Klaviyo Inc., a marketing automation powerhouse, also jumpstarts its IPO journey, signaling that a triumphant IPO parade from Arm, Instacart, and Klaviyo could well inject zest into the broader market scene.
The Journey: Peaks, Valleys, And Silver Linings
Instacart’s voyage to this pivotal moment hasn’t been without its storms. 2022 saw a hesitant Instacart retract its public-going plans amidst a chilly reception to new listings. The subsequent period was no cakewalk, marked by the brutal trinity of rocketing inflation, ascending interest rates, and investor disappointments rooted in fledgling tech startups’ lackluster public debuts.
