It’s not a done deal, but San Francisco-based grocery delivery platform Instacart is testing the waters for a potential IPO. The company said that it had confidentially filed to go public, despite a slashed valuation in March from $40B to $24B. Founded in 2012, Instacart has raised a total of $2.9B in funding over 20 rounds.
The fuel surcharge will take effect "in the coming days."
The company is positioned to ride a wave of investor interest in automated solutions to online delivery, experts say.