Instacart has long primed itself for a much-watched public debut, keeping its regulatory filings up to date and improving profits. But one new factor may delay a public debut: a slowdown in growth.
In the first quarter, Instacart saw its gross order volume grow between 5% and 10% compared to the same period last year, people briefed on the matter said. That compares with 16% for all of 2022, when gross order volume—the dollar value of orders flowing through a marketplace before the company takes a cut from fees from customers and grocery retailers—reached $29 billion. Order volume is an indicator of revenue. The firm’s net revenue, which includes a growing pool of advertising dollars, couldn't be learned.
