Instacart in Q4 2022, TripActions in Q2 2023? Lets do it.
The IPO market is still frozen like a Nordic lake dotted with fishing huts, but there are signs that a thaw is now in sight.
News from Insider indicates that TripActions, a unicorn in the corporate travel and expense category, has filed confidential paperwork to go public. As of publication, the company is targeting a Q2 2023 public debut at an approximately $12 billion price tag. (Bloomberg’s Katie Roof, a former TechCruncher, was the first to report that TripActions is eyeing an IPO).
The news warmed our hearts as we heartily remembered the S-1 filing, a special taste of startup news we feasted on during the 2021 boom, but without this year at public-market prices. was forced to live in the form of declining and diminishing returns. Some pre-debuts had closed the IPO window a few quarters back.
Mix in the fact that we are — still — expecting an Instacart S-1 filing in late 2022 and maybe even just beginning, we now have not only two IPOs on our docket, but two potential Decacorn public offerings. There are offers. These are going to be big, noisy, big-dollar transactions that will provide valuable data related to the market’s appetite for tech stocks in general and shed light on the respective value of two important startup sectors. Hell yeah, we’re excited. There’s nothing like a little new data to fill in the gaps in our understanding of today’s market.
Today, we’re going to discuss what we expect to learn from each IPO filing and which startups will be affected by those particular data points.
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Remember that Instacart had a major pandemic going on, booming before swapping CEOs, spurring growth, and sticking to its IPO-timing gun.
TripAction is different. The pandemic didn’t help his business right away—in fact, it spooked it a bit. But the company shook up its model, expanding its product mix in the process, and now, with business travel back, it’s apparently satisfied with its results to the point where an IPO is in the cards.
S-1 hopes, IPO dreams
Starting with Instacart because it’s the premise that we’ve trodden on before, we know the company’s revenue is accelerating and it’s on a terrifying scale thanks to COVID-19 for shifting consumer behavior closer to its product. has reached.
We also learned recently that the company is gradually trimming employees, selling the stock to public market investors likely to put its profit metrics in the right place; The word of the day is profit, or perhaps “efficiency rather than just growth”, after all.