Wall Street Journal:
Sources: Instacart plans to mostly sell employees’ stock during its IPO to help staff cash out, issuing a small number of shares and limiting the amount raised — Most shares listed will come from employees, in a move that could help the delivery company retain and recruit talent
Dan Primack / Axios:
Instacart is pulling its plans to go public in 2022; the company confidentially filed for an IPO earlier this year — Grocery delivery app Instacart has decided to push its highly anticipated IPO into 2023, believing the current stock market is too volatile, as first reported by The New York Times and confirmed by Axios.
New York Times:
Sources: Instacart is pulling its plans to go public in 2022; the company confidentially filed for an IPO earlier this year — The food delivery company had been moving toward a public offering, but the window for such deals is shutting amid market turmoil.
Erin Woo / The Information:
Sources: Instacart slashed its internal valuation to ~$13B, its third cut this year, as it seeks to reset investor expectations ahead of an IPO — Instacart, the instant delivery company gearing up to go public, has slashed its internal valuation to about $13 billion, according to two people familiar with the matter.
Umar Shakir / The Verge:
Instacart announces its Connected Stores ecosystem, including a smart Caper Cart that lets shoppers self-checkout by detecting items placed inside it — Instacart gig workers have a smartphone app with scanning tools at their disposal to fulfill delivery orders — but what if regular shoppers could also use them?
Shaji Mathew / Bloomberg:
Saudi Arabian food delivery service Jahez agrees to acquire local rival The Chefz for ~$173M in a cash and stock deal — Saudi food delivery firm Jahez agreed to acquire The Chefz in a cash and stock deal, almost a year after Delivery Hero SE’s attempt to buy the firm was thwarted by the local competition watchdog.
Raffaele Huang / Wall Street Journal:
Sources: TikTok’s efforts to cut ties with Beijing-based ByteDance have stumbled over hiring and retaining talent, as some key staff remain based in China — The short-video app is making big efforts to separate from Beijing-based ByteDance, but is still hiring staff in China for key functions
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