Initial Public Offering: On August 25, 2023, Maplebear Inc., doing business as “Instacart,” announced its submission of a registration statement on Form S-1 to the U.S. Securities and Exchange Commission. This filing pertains to a proposed initial public offering of its common stock.
The specific quantity of shares to be offered and the price range for this proposed offering have not yet been determined. Instacart’s plan is to list its common stock on the Nasdaq Global Select Market using the symbol “CART.”
The proposed offering will have Goldman Sachs & Co. LLC and J.P. Morgan as lead book-running managers. BofA Securities, Barclays, and Citigroup will serve as additional book-running managers.
Furthermore, Baird, JMP Securities, A Citizens Company, LionTree, Oppenheimer & Co., Piper Sandler, SoFi, Stifel, Blaylock Van, LLC, Drexel Hamilton, Loop Capital Markets, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Stern, and Tigress Financial Partners will act as co-managers for the proposed offering.
It’s important to note that the proposed offering will be conducted exclusively through a prospectus. Copies of the preliminary prospectus can be acquired from two sources: Goldman Sachs & Co. LLC (Prospectus Department, 200 West Street, New York, NY 10282, Phone: (866) 471-2526, Email: [email protected]) and J.P. Morgan Securities LLC (Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: (866) 803-9204, Email: [email protected]).
It’s worth noting that while a registration statement concerning these securities has been submitted to the U.S. Securities and Exchange Commission, it has not yet been enacted. Consequently, the sale of these securities and the acceptance of offers to purchase them are prohibited prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor is it indicative of a sale of these securities in any jurisdiction where such actions would be unlawful before being registered or qualified under the applicable securities laws of that jurisdiction.
About Instacart:
Instacart, a prominent grocery technology firm in North America, collaborates with grocers and retailers to revolutionize the shopping experience. Working with over 1,400 national, regional, and local retail banners, Instacart facilitates online shopping, delivery, and pickup services across North America from more than 80,000 stores available on the Instacart Marketplace.
This platform allows millions of customers to access groceries from their preferred retailers, and approximately 600,000 Instacart shoppers to earn income by fulfilling orders on a flexible schedule. The Instacart Platform also provides retailers with a range of high-quality technological products and services to enhance their e-commerce operations, order fulfillment, digital transformation of physical stores, advertising services, and data insights.
Through Instacart Ads, numerous consumer packaged goods brands collaborate with the company to directly engage with online consumers at the point of purchase. Additionally, Instacart Health offers tools aimed at improving nutrition security, facilitating healthier choices for consumers, and expanding the role of food in enhancing health outcomes.
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