KEY POINTS
  • Instacart has picked Goldman Sachs to lead its initial public offering, which could come early next year, people familiar with the matter said on Thursday.
  • The deal could value the U.S. grocery delivery app at around $30 billion, the people said.
  • Instacart's business has boomed during the Covid 19 pandemic.
FALMOUTH, MA - APRIL 8: Instacart shopper Loralyn Geggatt makes a delivery to a customer's home during the COVID-19 pandemic in Falmouth, MA on April 7, 2020. Some Amazon, Instacart and other workers protested for better wages, hazard pay and sick time. (Photo by David L. Ryan/The Boston Globe via Getty Images)
Boston Globe

Instacart has picked Goldman Sachs Group to lead its initial public offering (IPO), which could come early next year and value the U.S. grocery delivery app at around $30 billion, people familiar with the matter said on Thursday.

Instacart was valued at $17.7 billion last month, when it raised $200 million in a private fundraising round. Were the IPO to push Instacart's valuation to close to $30 billion, it would underscore the rapid growth of its business as more consumers turn to it to shop for groceries during the COVID-19 pandemic.