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After Pepsico's investment, Instacart plans to fix IPO price range, launch investor roadshow as early as Monday
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coronavirus pandemic as online shopping for groceries became the norm. Instacart raised $2.74 billion as a startup and was valued at $39 billion in 2021, according to data provider PitchBook.
But as the pandemic waned — and diners began to emerge from lockdowns and return to restaurants — Instacart’s growth faded too. That forced the company to slash its internal valuation three times last year to about $13 billion by last October.
PepsiCo Inc. is a backer of the IPO, Instacart’s prospectus showed.
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