Instacart IPO Plan Shows Transition as Order-Growth Stalls

Instacart filed plans to go public on Friday — and in doing so, pulled back the curtain on a grocery-delivery business that has faced a rapid slowdown in the growth of its core business and is searching for new ways to make money.

Orders on America’s largest online grocery delivery platform rose 18% to almost 263 million in 2022 but were virtually flat in the first half of 2023 compared with a year earlier, Instacart said in its filing with the US Securities and Exchange Commission. The company was able to become profitable in 2022, thanks in part to a ...