A listing price for Instacart may then be set on Sept. 19, with trading starting the next day. The schedule, however, could change depending on market conditions.
Instacart had no comment.
Instacart has been profitable for the last five quarters, and PepsiCo has already agreed to purchase $175 million in the grocery deliverer’s stock in a private placement.
Tech IPOs have been hard to come by over the last couple of years, according to CNBC. Software vendor HashiCorp and cloud technology developer Samsra were the last two to do it back in December 2021. Instacart’s top competitor, DoorDash, filed in 2020, but Instacart is one of the first independent grocery delivery companies to go public.