Next week promises to be eventful tech news, with some notable enterprise software names – Nvidia, Snowflake and Zoom Video – set to post revenue. According to Bloomberg, there will also likely be IPO filings from Instacart and, according to various media outlets, Arm. The IPO market seems to be waking up from its slumber.
The IPO filings will be worth reading for their financial details on the companies, although the key trends for Instacart have already been reported by The Information here and here and the Wall Street Journal here. For the IPOs, though, it’ll be really fun to see how the two companies will be valued when their shares go public, which likely will be next month. Instacart’s private valuation has dropped from $39 billion in early 2021 to around $10-12 billion as of late, depending on whether you use the company’s internal valuation or look at listings and offers in the secondary market, how Caplight reports. Using DoorDash as a comparison, and based on Instacart’s reported sales for 2022, a valuation of around $9 billion would make sense.
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