Instacart makes 12% gain on Nasdaq debut

Grocery delivery business is valued at $11 billion as company expands into advertising

Instacart has diversified from grocery delivery to also function as an ad platform. Picture: Getty

Instacart, the grocery delivery app, has gained 12 per cent on its valuation following its stock exchange debut.

The US head-quartered platform has diversified and now offers advertising services, to helping it gain investor support after its first day of trading on Nasdaq.

Instacart’s shares opened trading Tuesday at $42 (€39) each after selling for $30 — the top of a marketed range — to raise $660 million for the company and selling stockholders in ...