Grocery delivery company Instacart raised its potential IPO listing price to $28-$30/share before officially opening on the Nasdaq on Tuesday.
Venture firms Sequoia and Andreesen invested in Instacart at $125/share in 2021 when Covid increased dependency on all delivery apps.
There was a drop in Instacart valuations once people started shopping in person again - capital costs and interest rates grew, and budgets dropped.
Instacart has continued to grow despite this but at a much slower pace.
However, if the stock prices hold, there is still hope for limited partners to profit. Shares cannot be sold until 180 days after going public.
Experts believe this is a good time to invest in Instacart, riding on the wave of high-profile companies going public successfully.