When Instacart executives begin their initial public offering pitch to investors as early as next week, they face a challenge. Order volume in Instacart’s core grocery-delivery business is barely growing, new data reveals, although the company is showing revenue expansion by keeping more of the dollars spent on each order and from a fast-growing ad business.
How investors react to that mixed picture will determine the valuation Instacart scores in the public markets. The grocery-delivery firm was thought to be worth $39 billion in early 2021, but its valuation has lately hovered closer to $10 billion.
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