Grocery supply unicorn Instacart filed privately to go public yesterday, a long-awaited event for the well-known non-public firm. Throughout its startup days, Instacart raised huge amounts of capital and grew quickly. When the pandemic arrived, Instacart’s business turbo-charged as demand for its service reached a fever pitch.
The final yr has been much less type. Development slowed as Instacart lapped a yr of income growth pushed by COVID-19 and extra people staying house and ordering in. That Instacart held onto a few of that 2020 power and managed to develop final yr is one thing of a feat.
Nonetheless, the corporate was not priced throughout its most up-to-date enterprise capital rounds with slowing progress in thoughts, resulting in Instacart revaluing itself earlier in the year. The motion helped clear the trail for extra employee-friendly compensation and reset expectations for its exit.
That exit is now earlier than us. We lack the corporate’s formal S-1 submitting as a result of Instacart took the “file privately earlier than submitting publicly to go public” route. However as a result of we at the moment are within the chute for an eventual Instacart IPO, let’s take inventory of the corporate’s current information and ask just a few questions.
The important thing questions in our thoughts heading into Instacart’s debut concern its progress, economics, and income combine. As you’ll be able to think about, these are interlinked.