Grocery delivery company Instacart files for long-awaited IPO

Grocery delivery company Instacart is going public. The San Francisco-based company filed paperwork Friday with the U.S. Securities and Exchange Commission. The IPO is expected to happen in the next few weeks. Instacart said it plans to trade on the NASDAQ stock exchange under the stock symbol “CART.” The number of shares and the price haven’t yet been determined, the company said. The IPO is a long-awaited step for Instacart, which was founded in 2012. Instacart provides delivery from 85% of U.S. grocers. The company says it has 7.7 million active customers who spend about $317 per month on on the platform.