By: Economic & Finance Report
Instacart IPO opened on Tuesday, September 19, 2023. The IPO opened at $42/share. The company had a target of $30/share for its initial Nasdaq listing but throughout the stock market trading day, the company was able to surpass that $30/share threshold, having hit a high of 40% and closing the stock market day, over 12% from its initial target.
Instacart’s valuation was at $39 billion dollars and the food & products delivery app began its journey in San Francisco, California in 2012; headed and founded by Apoorva Mehta, Brandon Leonardo, and Max Mullen.
Since the beginning, the trio have enabled and focused on advertising as being superior and marquee for their brand and revenue, especially for the services they provide to customers. They believe how well they cater to their customers and the alignment of digital marketing and advertising, is a key element to Instacart’s long term success. -SB
Image Source Credit: Instacart