The grocery delivery app’s shares traded as high as US$42.95 in Tuesday trading, up about 43 per cent from their US$30 offering price. (The Logic)
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The grocery delivery app’s shares traded as high as US$42.95 in Tuesday trading, up about 43 per cent from their US$30 offering price. (The Logic)
Talking point: The startup, co-founded by University of Waterloo alumnus Apoorva Mehta, had been eyeing an IPO since at least 2019. After a blockbuster 2021 for tech listings, the market shifted and Instacart delayed its plans for an offering amid a dearth of new listings. The IPO market has recently shown signs of life, especially after SoftBank-owned chip designer Arm’s strong debut last week. That prompted Instacart to upsize its offering and its first-day performance is a positive sign for Shopify-backed Klaviyo, which is expected to start trading its upsized offering Wednesday.
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