- Markets
Find out what influences market movements by browsing through our tailor made product pages.
- Trading Platforms
Maximise your investment opportunities
Trading Platforms
In order to ensure our customers have the best trading experience. We are proud to introduce our suite of trading platforms.
- Accounts
All accounts can be opened using one application form.
OPEN A LIVE ACCOUNT
The application process is simple and straightforward. You can complete the online application form and be trading in minutes.
- Academy
Here you will find all the details regarding One Financial Markets educational offering
TRADING ACADEMY
Working through each of our six online modules, detailed below, you can develop your trading confidence
- Newsroom
The latest news in the Financial Markets from across the globe.
LATEST NEWS
Make sure you don't miss out on what's going on in the world around you, keep up to date with our market commentary and daily market update videos.
- Contact Us
Instacart achieves $9.9 billion valuation in successful IPO
Grocery delivery app Instacart, owned by Maplebear Inc, has successfully priced its initial public offering (IPO) at the top of its indicated range, achieving a fully diluted valuation of $9.9 billion. The shares are set to start trading on NASDAQ on Tuesday. The IPO raised $660 million, with the company pricing it at $30 per share following strong investor demand.
This valuation is notably lower than the $39 billion valuation that investors assigned to Instacart during a private fundraising round in March 2021, amidst the height of the COVID-19 pandemic. Despite the pandemic-induced surge in demand for grocery delivery services tapering off, Instacart has proven its profitability. The company reported a net income of $242 million for the six months ended June 30, compared to a loss of $74 million in the same period last year.
Investors such as Norges Bank Investment Management and entities affiliated with venture capital firms TCV, Sequoia Capital, D1 Capital Partners and Valiant Capital Management have agreed to buy up to $400 million worth of shares sold in Instacart's IPO. Beverage giant PepsiCo (NASDAQ:PEP) also agreed to purchase $175 million in preferred convertible stock.
Despite facing competition from retail giants like Amazon (NASDAQ:AMZN), Target, and Walmart (NYSE:WMT), Instacart continues to generate revenue by delivering groceries from various chains including Kroger (NYSE:KR), Costco (NASDAQ:COST), and Wegmans. The company has also expanded its delivery business to non-grocery goods from sellers such as beauty product retailer Sephora, convenience store 7-Eleven and pharmacy chain CVS Health (NYSE:CVS).
The company's successful IPO is seen as another sign of the U.S. IPO market's rebound after a dry spell throughout most of this year and 2022. This follows SoftBank (TYO:9984) Group Corp's chip designer Arm floating on Nasdaq last week at a $54.5 billion fully diluted valuation, which has since risen to $62 billion after three days of trading.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Begin trading today! Create an account by completing our form
Privacy Notice
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.