Deal Details

Instacart Completes $660 Million Initial Public Offering

Technology & Services
Consumer

Instacart inital public offering

Summary

Maplebear Inc. (d/b/a Instacart) (NASDAQ: CART) (“Instacart” or the “Company”) recently completed its initial public offering of 22,000,000 shares of its common stock, 14,100,000 of which are being sold by Instacart and 7,900,000 of which are being sold by certain selling stockholders, at a price to the public of $30.00 per share, generating gross proceeds of approximately $660.0 million. Instacart will not receive any proceeds from any sale of shares by the selling stockholders. In addition, Instacart has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of its common stock. Instacart intends to use the net proceeds from the offering to settle outstanding restricted stock units (“RSUs”), working capital and general corporate purposes.

Baird served as a co-manager on this transaction.

About

Instacart, the leading grocery technology company in North America, works with grocers and retailers to transform how people shop. The Company partners with more than 1,400 national, regional, and local retail banners to facilitate online shopping, delivery and pickup services from more than 80,000 stores across North America on the Instacart Marketplace. Instacart makes it possible for millions of people to get the groceries they need from the retailers they love, and for approximately 600,000 Instacart shoppers to earn by picking, packing and delivering orders on their own flexible schedule. The Instacart Platform offers retailers a suite of enterprise-grade technology products and services to power their e-commerce experiences, fulfill orders, digitize brick-and-mortar stores, provide advertising services, and glean insights. With Instacart Ads, thousands of CPG brands – from category leaders to emerging brands – partner with the company to connect directly with consumers online, right at the point of purchase. With Instacart Health, the company is providing tools to increase nutrition security, make healthy choices easier for consumers, and expand the role that food can play in improving health outcomes. Instacart is headquartered in San Francisco, California.

Technology & Services
Consumer

Instacart inital public offering