Instacart S-1 Filing: Five Key Takeaways
The Orders Keep Coming
While Instacart experienced a surge in business during the pandemic, it has managed to maintain its momentum even as restrictions have eased. In 2022, orders increased by 18% to 262.6 million compared to the previous year. This trend has continued with 132.9 million orders for the first six months of 2023.
Gross transaction volume also saw growth, reaching $28.8 billion in 2022, a 16% increase from 2021. Transaction revenue surged by 44% in 2022 to reach $1.8 billion.
Instacart’s Impressive Scale
Instacart is one of the largest private companies, with revenue totaling $2.55 billion in 2022, a 39% increase from the previous year. The company achieved operating profits of $71 million in 2022, a significant improvement from a -$72 million in 2021.
Fundraising History and Valuation
Since its inception in 2012, Instacart has raised $2.9 billion in funding. In March 2021, the company secured a $265 million funding round at a valuation of $39 billion.
Instacart’s IPO filing and debut are highly anticipated events expected to occur in the second half of 2023. The public offering will provide opportunities for existing investors and potential shareholders to participate in the company’s future growth.
The detailed mechanics of Instacart’s grocery delivery business and its profitability will be examined in further detail. For now, let’s focus on the significant growth numbers and trends outlined in the SEC documents.