Headlines

Instacart Nears IPO

CEO hints at forthcoming move

Published

5 years ago

January 28, 2019

kmpeyton

Grocery delivery startup Instacart (San Francisco) has revealed that it sees an IPO on the horizon. The company’s CEO confirmed to CNN Business that he believes the move will be critical to Instacart’s expansion.

Despite breaking with Amazon-owned Whole Foods Market, the on-demand grocery delivery service has continued to partner with other retailers, offering delivery for The Kroger Co. (Cincinnati), Aldi (Essen, Germany), Petco (San Diego), CVS Health (Woonsocket, R.I.) and more. Instacart is valued at nearly $8 billion after raising $271 million in new funding in November, reports CNN.

"As we think about building a long-term company, we think being a public company allows us to do that in the best possible way," said Instacart CEO Apoorva Mehta.

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