Instacart’s IPO storms out the gate, showing that unicorns can, in fact, go public and survive

Instacart shot up high this morning after the American grocery delivery giant priced its IPO at the top of its recently raised range yesterday. For startups dying of thirst in this desert devoid of capital, Instacart could not have offered up a more satisfying glass of cool water.

Instacart was worth $42 per share out the gate and has since moderated slightly to $39.89 per share. Still, it’s up 33% from its IPO price, which is a pretty darn good first day for any public company.