(New York) The American shopping delivery platform Instacart announced in a press release on Friday that it had initiated the procedure for its listing on the New York Stock Exchange, on the NASDAQ.
The price range and number of shares offered have not been determined at this stage, said the company, which will operate under the symbol “CART”.
The company, founded in 2012, has more than 1,400 partners in North America – representing 85% of the US grocery market (excluding alcohol) – from local stores to large national distributors, representing more than 80,000 stores accessible on its Instacart platform. Marketplace.
“Instacart empowers millions of people to access the groceries they need from the merchants they love, and approximately 600,000 Instacart customers to earn by picking up their orders themselves or delivering them depending of their availability,” the company said in its statement.
It also highlights its Instacart Health service, which provides nutrition tools to help consumers make healthy food choices.
In the document filed with the SEC, the policeman of the American stock market, the company indicates that it has generated over one year, as of June 30, 2023, a gross transaction value of $29.4 billion – the amount of purchases made on the platform – and 263 million orders.
Over the same period, gross turnover amounted to 2.2 billion and net income reached 744 million dollars, including a tax benefit of 358 million.
Since its inception, it claims to have accumulated a gross transaction value of more than $100 billion, approximately 900 million orders, 20 billion items ordered and a cumulative deficit of $735 million.
Its growth has been “greatly accelerated by the pandemic,” according to the document.
Instacart adds that it has 7.7 million monthly active users, spending an average of $317 each month.
In addition, it indicated that it had reached an agreement with the PepsiCo soda group, which has undertaken to acquire 175 million convertible shares in an over-the-counter placement.
And qualified “major” investors including Norges Bank Investment Management and affiliates of investment companies like TCV, Sequoia Capital, Capital Partners or Valiant Capital Management “have expressed interest” to independently acquire up to 400 million dollars accumulated during listing.
