• From The Information:
"In the first half of this year, Instacart increased revenue more than 30% to about $1.4 billion, a person familiar with the matter said. But the actual volume of groceries and other goods people are ordering through its service barely budged. That metric - an important one for delivery services, called gross transaction volume - grew only about 5%, the person said. Another issue investors may fret about: Instacart’s profits shrank in the second quarter this year compared to the first, the person said.
"The company plans to release detailed financial statements for the first time when it publicly releases its initial public offering prospectus, which is likely to come late next week ahead of a potential September IPO, people familiar with the plans said. Details of its first-half financial performance haven’t been previously reported. Bloomberg first reported that the company plans to go public next month."
