Instacart

Instacart (Maplebear Inc.) is the leading North American grocery technology platform, connecting consumers with 80,000+ store locations across 1,400+ retail banners including Kroger, Costco, Safeway, and Whole Foods. The company priced its IPO on September 19, 2023 at $30 per share on the Nasdaq under ticker CART, raising $660 million and opening with a market cap of approximately $10 billion. CEO Fidji Simo has led Instacart since 2021, refocusing the business on advertising technology and enterprise software (Instacart Platform) alongside its consumer marketplace. Founded in 2012 by Apoorva Mehta, the company had reached a peak private valuation of $39 billion in 2021 before the 2022 market correction drove valuations lower.