Instacart Inc. is targeting a valuation between $8.6 billion and $9.3 billion for its IPO, a fraction of what the business was previously worth, the Wall Street Journal reported Sunday, citing people with knowledge of the matter.
The online grocery delivery company plans to start its investor roadshow as soon as Monday, Bloomberg reported Sept. 6. Instacart is considering pricing its listing Sept. 19, with trading starting the following day.
An Instacart spokesperson declined to comment to Bloomberg on the Journal report or any topics related to the imminent initial public offering.
(Updates with Instacart comment in paragraph three.)
