Instacart Files for Highly Anticipated IPO After Five Consecutive Profitable Quarters

Instacart has filed paperwork with the SEC to go public on the Nasdaq under the ticker symbol "CART."
The grocery delivery company reported $716 million in revenue and $114 million in net income last quarter.
Instacart plans to use AI and machine learning to drive future growth on its platform.
The company saw 31% revenue growth in the first half of 2023 compared to last year.
Goldman Sachs and JPMorgan are leading the IPO as underwriters, with shares to be listed on the Nasdaq.