Banks Ran Their Safest IPO Playbooks This Year. Investors Say It Backfired.

Banks Ran Their Safest IPO Playbooks This Year. Investors Say It Backfired.

It seemed like a surefire way to juice investor demand in a tough market: Instacart lined up a group of existing and new investors, ranging from Sequoia Capital to Norway’s sovereign wealth fund, to buy up to $400 million, or 60% of the stock it planned to sell in its September initial public ...