Instacart has confidentially filed with the US securities regulator to go public, the online grocery delivery app said on Wednesday
The San Francisco-based startup did not disclose any details on the size and timing of its market debut in the statement.A company spokesperson declined to provide further details.Instacart's growth boomed during the pandemic as stuck-at-home consumers lapped up its doorstep delivery services, but the company was forced to cut its valuation by nearly 40% to about $24 billion in March due to recent market turbulence.
Read MoreGoldman Sachs and JP Morgan are working on the offering, a person familiar with the talks told Reuters.Goldman Sachs declined to comment, while JP Morgan did not immediately respond.A listing could happen as soon as this year though the timing could slip, according to a Bloomberg report on Wednesday, that added the company could still remain private.
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