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319 Pepsi, Norway and a Lockup Quirk: Our Takeaways From Instacart’s IPO Filing

The Information
Cory Weinberg @ The Information · 08/25/2023 17:30 EDT

Pepsi, Norway and a Lockup Quirk: Our Takeaways From Instacart’s IPO Filing

How is Instacart trying to ensure the first major initial public offering of a venture-backed company in more than 18 months goes smoothly? By getting support from some of its friends…and the Norwegian government.

In the paperwork it filed Friday, Instacart named Pepsi, one of its major advertisers, as an investor that will buy $175 million of new convertible shares at the IPO price in a separate private placement. Instacart and its lead underwriter Goldman Sachs also said they had lined up investors to bu

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