Instacart Takes A Big Step For IPO

Grocery delivery company Instacart said Wednesday it will test the waters for an IPO, despite the recent jolt in tech shares and the company’s own turmoil over the past year. The company said it has submitted documents for the so-called confidential filing, which means it does not yet have to disclose specific data about the […]

Instacart Lowers Its Value By 38 Percent By Showing ‘Turbulence’

Grocery delivery company Instacart said on Thursday it had cut its valuation for tech stocks from $39 billion to $24 billion, reflecting poor market conditions. “We are confident in the strength of our business, but we are not immune to the market turbulence that is affecting leading technology companies, both public and private,” the company […]

Instacart has hired a top Facebook executive as its new chief.

Fidji Simo, the leader of Facebook’s eponymous app, said Thursday that he is leaving the social network to become CEO of Instacart, an on-demand grocery startup set to become a publicly traded company. Ms. Simo, 35, will take effect immediately, replacing 34-year-old Apoorva Mehta, founder and CEO of Instacart. Mr. Mehta will become chairman of […]