Instacart Files for IPO Revealing Profit, PepsiCo Investment
- Filing adds momentum to IPOs as investors look for rebound
- Instacart discloses $175 million investment by PepsiCo
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Instacart joined chip designer Arm Holdings Ltd. in moving ahead with an initial public offering, adding momentum to a return of high-profile listings.
The largest US online grocery delivery company disclosed in its filing Friday with the US Securities and Exchange Commission that PepsiCo Inc. will buy $175 million in preferred convertible stock. The San Francisco-based company also revealed it turned a profit in the first half the the year.