Instacart has selected Goldman Sachs to lead its IPO, which could value the grocery delivery company at $30 billion, according to a report from Reuters. The San Francisco-based company reportedly sped up its IPO plans after California voters decided to uphold a state law classifying gig economy workers as independent contractors; its listing could come early next year.
Last month, Instacart surged to a $17.7 billion valuation, becoming the most valuable venture-backed food delivery company in the US, according to PitchBook data. Instacart has raised $525 million since the outset of the pandemic, more than doubling its valuation since the end of 2018.
Blackstone-backed Bumble has tapped Goldman Sachs, Citigroup and Morgan Stanley to aid with its IPO, which may come in the first quarter of 2021, according to Bloomberg. The dating app is said to be eyeing a valuation of between $6 billion and $8 billion. Last year, Blackstone bought Bumble’s parent company, MagicLab, at a $3 billion valuation.