This article was written with the assistance of ChatGPT.
The news: Instacart reported a surge in sales and profits in the fourth quarter of 2022, per The Wall Street Journal, an optimistic sign as the company prepares to go public.
How we got here: Instacart's success is largely due to its push into advertising, as well as growth for its Instacart+ membership program.
The big takeaway: The strength of Instacart’s advertising business coupled with steady growth for its delivery arm should smooth its path to an IPO. However, its decision to cut its internal valuation earlier this year suggests it may have some more convincing to do before investors are fully on board.
Go further: Check out our US Digital Grocery Forecast for more on consumers’ changing grocery-buying behaviors.
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