Instacart taps Goldman Sachs to lead IPO at $30b valuation

Photo: Bloomberg

Instacart has picked Goldman Sachs Group Inc <GS.N> to lead its initial public offering (IPO), which could come early next year and value the U.S. grocery delivery app at around $30 billion, people familiar with the matter said on Thursday.

Instacart was valued at $17.7 billion last month when it raised $200 million in a private fundraising round. Were the IPO to push Instacart‘s valuation to close to $30 billion, it would underscore the rapid growth of its business as more consumers turn to it to shop for groceries during the COVID-19 pandemic.

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