Instacart S-1

Cool to see a IPO with profitable unit economics<p>&gt; Gross profit grew from $1,226 million in 2021 to $1,831 million in 2022, an increase of 49%, and from $769 million for the six months ended June 30, 2022 to $1,109 million for the six months ended June 30, 2023, an increase of 44%;<p>Unless I missed something

It&#x27;s crazy to me how much of large business revenue comes from ads. Just under one third of their revenue is from advertising!<p>Is this a recent shift, or one that I&#x27;m just now noticing? Other large tech companies have had substantial increases in ad revenue as well: notably amazon and uber. Is advertising shifting away from Google, or is this just a normal part of large businesses (like paying for placement in retail stores)?

Is there a monetary advantage filing for IPO in the current downturn? I know the owners will get less money per share but is there a long term advantage?

What’s this $358 million tax benefit? If it wasn&#x27;t for that they’d still have made a ~$70m loss. Is that a one-off?