SEC Comment Letter 0000000000-23-009019 to Maplebear Inc. (CART) (CIK 0001579091) (CART)
Maplebear Inc. (CART) (CIK 0001579091)
Date: Aug. 17, 2023 · CIK: 0001579091 · Accession: 0000000000-23-009019
AI Filing Summary & Sentiment
Letter
United States securities and exchange commission logo August 17, 2023 Fidji Simo Chief Executive Officer Maplebear Inc. 50 Beale Street, Suite 600 San Francisco, CA 94105 Re:Maplebear Inc. Amendment No. 6 to Draft Registration Statement on Form S-1 Submitted August 4, 2023 CIK No. 0001579091 Dear Fidji Simo: We have reviewed your amended draft registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by providing the requested information and either submitting an amended draft registration statement or publicly filing your registration statement on EDGAR. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing the information you provide in response to these comments and your amended draft registration statement or filed registration statement, we may have additional comments. Amendment No. 6 to Draft Registration Statement on Form S-1 Management's Discussion and Analysis of Financial Condition and Results of Operations Our Performance in the Six Months Ended June 30, 2023, page 129 1.The grant-date fair value of equity table disclosed on page 134 indicates that the fair market value of your RSU decreased from $120.02 in 2021 to $35.72 in the first half of 2023. Please provide us a quantified explanation for the decrease in your RSU fair market value. Once you have an estimated offering price, please provide us an analysis explaining the reasons for the differences between recent valuations used for your share- based transactions leading up to the IPO and the estimated offering price.
FirstName LastNameFidji Simo Comapany NameMaplebear Inc. August 17, 2023 Page 2 FirstName LastName Fidji Simo Maplebear Inc. August 17, 2023 Page 2 You may contact Suying Li at 202-551-3335 or Theresa Brillant at 202-551-3307 if you have questions regarding comments on the financial statements and related matters. Please contact Alyssa Wall at 202-551-8106 or Erin Jaskot at 202-551-3442 with any other questions. Sincerely, Division of Corporation Finance Office of Trade & Services cc: Jon Avina
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United States securities and exchange commission logo
August 17, 2023
Fidji Simo
Chief Executive Officer
Maplebear Inc.
50 Beale Street, Suite 600
San Francisco, CA 94105
Re:Maplebear Inc.
Amendment No. 6 to Draft Registration Statement on Form S-1
Submitted August 4, 2023
CIK No. 0001579091
Dear Fidji Simo:
We have reviewed your amended draft registration statement and have the following
comments. In some of our comments, we may ask you to provide us with information so we
may better understand your disclosure.
Please respond to this letter by providing the requested information and either submitting
an amended draft registration statement or publicly filing your registration statement on
EDGAR. If you do not believe our comments apply to your facts and circumstances or do not
believe an amendment is appropriate, please tell us why in your response.
After reviewing the information you provide in response to these comments and your
amended draft registration statement or filed registration statement, we may have additional
comments.
Amendment No. 6 to Draft Registration Statement on Form S-1
Management's Discussion and Analysis of Financial Condition and Results of Operations
Our Performance in the Six Months Ended June 30, 2023, page 129
1.The grant-date fair value of equity table disclosed on page 134 indicates that the fair
market value of your RSU decreased from $120.02 in 2021 to $35.72 in the first half of
2023. Please provide us a quantified explanation for the decrease in your RSU fair market
value. Once you have an estimated offering price, please provide us an analysis
explaining the reasons for the differences between recent valuations used for your share-
based transactions leading up to the IPO and the estimated offering price.
FirstName LastNameFidji Simo
Comapany NameMaplebear Inc.
August 17, 2023 Page 2
FirstName LastName
Fidji Simo
Maplebear Inc.
August 17, 2023
Page 2
You may contact Suying Li at 202-551-3335 or Theresa Brillant at 202-551-3307 if you
have questions regarding comments on the financial statements and related matters. Please
contact Alyssa Wall at 202-551-8106 or Erin Jaskot at 202-551-3442 with any other questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services
cc: Jon Avina