Instacart to Slow Hiring to Focus on Profitability Ahead of IPO

Grocery delivery startup Instacart Inc. is planning to slow the pace of hiring as it prepares for an initial public offering, focusing instead on profitability.

“We hired more than 1,500 people over the last year and nearly doubled the size of our engineering teams,” the company said in a statement to Bloomberg. “As part of our second-half planning, we’re slowing down our hiring to focus on our most important priorities and continue driving profitable growth.”