It's the return of the tech IPO. Instacart says it's profitable — and this may be the necessary secret ingredient for a hot market debut in 2023.

• Tech startups Instacart and Klaviyo filed to go public, marking the return of the tech IPO.
• IPOs have been near nonexistent over the last year and a half thanks to a volatile stock market.
• Instacart and others going public are profitable, a bar others may have to meet to be successful.

The tech IPO is back. After a long hiatus, the IPO market is finally showing signs of life thanks to the long-awaited declaration that Instacart is planning to go public.