Instacart files for a US IPO, reports 2022 revenue up 39% YoY to $2.55B, $428M net income, up from a $73M loss in 2021, and H1 2023 revenue up 31% YoY to $1.48B
Common Stock This is an initial public offering of shares of common stock … Reuters : Instacart reveals IPO filing, disclosing PepsiCo investment, profitability Dan Frommer / The New Consumer : Parade's sale, Peloton's bummer summer, Nike Studios pricing, Ikea's SF launch, and my Barbie note Bill Peters / MarketWatch : Instacart files for IPO, joining crowded field of gig-economy names as markets rebound Bloomberg : Instacart's IPO Plans Show Bottom-Line Benefit of Strategy Shift Hayden Field / CNBC : Instacart files to go public on Nasdaq to try and unfreeze tech IPO market PYMNTS.com : Instacart Files for IPO, Says Online Penetration in Grocery Could Double Maria Deutscher / SiliconANGLE : In positive signal for tech IPO market, Instacart and Klaviyo file to go public Cory Weinberg / The Information : Pepsi, Norway and a Lockup Quirk: Our Takeaways From Instacart's IPO Filing Insider : It's the return of the tech IPO. Instacart says it's profitable — and this may be the necessary secret ingredient for a hot market debut in 2023. Sam Becker / Fast Company : Instacart IPO: 3 key takeaways from the company's S-1 filing Sara Bloomberg / San Francisco Business Journal : Instacart's IPO is on again: Here's what we know Marlize van Romburgh / Crunchbase News : Klaviyo And Instacart File Going-Public Plans, Kickstarting IPO Market Fortune : Instacart files for IPO as a logjam of would-be publicly traded companies eye their market debuts TechCrunch : Five takeaways from Instacart's S-1 filing Tabby Kinder / Financial Times : US grocery delivery company Instacart files for IPO New York Times : Instacart Reveals $428 Million in Profit but Slowing Growth Ahead of I.P.O. Bloomberg : Instacart Files for IPO Revealing Profit, PepsiCo Investment Threads: Trevor Croker / @trevorcroker : Hi! This is Instacart, your latest tech IPO! I just arrived at the SEC and I'm going to get started on a Nasdaq listing ; please let me know if you would like anything else in the meantime. https://www.cnbc.com/... Bluesky: Greg Linden / @glinden.bsky.social : Net profit looks like it is better described as breakeven after removing the tax benefit of $358M. And that's only because of putting a lot of ads in the product which might cause growth problems long-term. The core problem remains, smaller market if they charge what is necessary to be profitable. … X: @harjtaggar : When you consider all the parameters in picking and delivering a single grocery order, it's mind boggling to imagine Instacart does it 263 *million* times a year. Congratulations @apoorva_mehta @Max and team 👏 https://www.wsj.com/... @modestproposal1 : Thanks everyone who responded. According to blog posts by both Instacart and Databricks, Instacart began using Databricks in the last year. Additionally Instacart talks about significant improvements in efficiency with Snowflake. So combo of migration and optimization. [image] Andrew Brackin / @brackin : Instacart's ad business has massive potential. CPG advertising is such a massive % of ad spend that wants to move online. Has barely been touched by SEM, social, etc. Eric Seufert / @eric_seufert : Instacart was one of my original, canonical “Everything is an Ad Network” references. Per its S-1, filed today, the company generated $740MM in ad revenue (+ “other") in 2022 on $2.5BN in total revenue, for roughly 30%. Everything is an ad network. [image] @modestproposal1 : Lots to chew on in Instacart S-1, but was curious what people make of this. Their Snowflake bill was $13M, $28M, $51M in 2020/21/22. 2023 bill will be $15M. Is that just “optimization”? Did they migrate? Is that indicative of the magnitude of optimizations? What's the read here? [image] Bill Gurley / @bgurley : Numbers look impressive on first read. Congrats to team. Eric Jackson / @ericjackson : You can't call it a tech bubble until Instacart IPOs... @jason : They really turned this business around over the years... in the face of a lot of headwinds. Congrats to the @instacart team (we are users of good eggs, UberEats AND Instacart) @alex : ok so the klaviyo and instacart IPOs are super solid re: profits and growth and should do fine wonder if they will shake loose other entrants what we need next is some kinda ok middle-tier unicorn that is still burning cash to try and get out Edwin / @edwinwee : Congrats to one of @Stripe's first users. From multiparty payments to instant payouts to tax compliance, growing alongside Instacart has been a journey. (In rare instances, you may encounter a Stripe moonlighting as an Instacart Shopper making sure the UX on our side is right.) Tom Dotan / @cityofthetown : “We believe that the COVID-19 pandemic and its variant outbreaks had minimal impact on our order volume following the third quarter of 2022” You can pretty much pinpoint in the Instacart S1 when Americans stopped caring about Covid. https://www.sec.gov/... [image] Eric Newcomer / @ericnewcomer : Sequoia and D1 are the only firms listed as owning more than 5% of Instacart Sar Haribhakti / @sarthakgh : Instacart and Uber are tracking to cross a billion in annual ads revenue very soon @alexisohanian : Congrats @apoorva_mehta @Max and the entire @Instacart team for making something people love. Proud to be a seed investor 🌱 Nate Becker / @natebecker : Heyyy Instacart's S-1 just dropped! It has lots of key new figures in it like revenue, profit and transaction volume. Oh wait, they're not new because @coryweinberg reported them all last weekend: https://www.theinformation.com/ ... Sheel Mohnot / @pitdesi : Gross profit of 6.4%. Surprised that the Covid bump didn't mean-revert, though CaC has gone up a lot [image] Erin Griffith / @eringriffith : what is this, a profitable gig economy startup? https://www.nytimes.com/... Ian Kar / @iankar_ : Interesting from Instacart's S-1: for every $110 AOV transaction made, Instacart makes $7 in gross profit [image] Sheel Mohnot / @pitdesi : Instacart S-1 launched 262M orders/yr (flat YoY) $28B GTV / $109 AOV (⬆️ 4%) $2.5B revenue (⬆️ 31%) The part that surprised me most: $740M Ad revenue! (⬆️ 24%) Point-of-purchase ads are powerful! Rachel Metz / @rachelmetz : today has been full of surprises, not the least of which being that instacart's actual business name is apparently maplebear! (is this a canadian thing? i think one of the founders is indian and canadian.) Ian Kar / @iankar_ : wait...why is SoFi Securities listed as an underwriter for the Instacart IPO? [image] @garrytan : Instacart files for its IPO Huge congrats @apoorva_mehta @fidjissimo 🚀🚀🚀 https://www.axios.com/... Cory Weinberg / @coryweinberg : Looks like it will be a decently sized IPO. Norges Bank, TCV, Sequoia Capital, D1 Capital Partners, and Valiant. “have indicated an interest, severally and not jointly, in purchasing shares of common stock in an aggregate amount of up to approximately $400 million” Cory Weinberg / @coryweinberg : NEWS: Instacart IPO filing says Pepsi (a big advertiser) agrees to be a new investor in the company in a private placement, at the TBD IPO price. This may help juice its IPO demand. Full Filing here: https://www.sec.gov/... Erin Griffith / @eringriffith : also LOL at maplebear LLC guys change your cutesy dba before the s-1 Erin Griffith / @eringriffith : ipos are back baby Matthew Belloni / @mattbelloni : Overpriced and late, no doubt... LinkedIn: Mitch Louch : Part of me thinks this could be an “Amazon in the dot com era” kind of moment for Retail. A major turning point towards the future at a time many didn't think there was a viable one. … Forums: r/wallstreetbets : Instacart files for its IPO