business news in context, analysis with attitude

The Information reports that if/when the IPO market begins to thaw - it has been virtually frozen recently because of inflation and recession concerns - "a path to profitability, have reconciled themselves to lower valuations and—perhaps just as important—are simply sick of waiting."

Like Instacart.

The Information writes:

"Instacart may be first out of the gate among high-profile firms. It had planned to go public for much of this year, even while stock markets were volatile, before it iced those plans in the fourth quarter. Executives have said it intends to list soon. Through the first half of the year, it was on pace for more than $2 billion in 2022 revenue and generated about $30 million in earnings before interest, taxes, depreciation and amortization in the second quarter, a person familiar with the matter said. Instacart has turned a profit on that basis between 2020 and 2022, the person said.

"Those numbers would make it slightly smaller but more profitable than delivery rival DoorDash was when it went public at the end of 2020 amid a boom for tech stocks."

KC's View:

I know that there are lots of folks obsessing about an Instacart IPO, but I'm not one of them - I'm more interested in how the company is evolving in serving customers, supporting retail brands, and continuing to serve as a way for retailers to compete with Amazon, Walmart and Kroger.