Grocery delivery firm Instacart marches to IPO despite stock market turmoil

Instacart Inc., a 10-year-old grocery delivery startup that was once one of the most highly valued of its gig-economy generation, is preparing to go public, potentially plunging itself into the volatile stock market as it sets to prove itself in a post-pandemic world.

The company has confidentially filed documents with the Securities and Exchange Commission to start the process for a stock market listing, according to a statement Wednesday night, confirming an earlier Bloomberg report. The registration is expected to become effective after the SEC completes its review process.

Chief Executive Officer Fidji Simo now must convince investors that Instacart’s explosive growth