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Instacart Seeks to Lead Online Grocery Delivery as it Delays IPO Despite Rapid Growth

  • Instacart is an online grocery delivery service founded in 2012 in San Francisco. It has since expanded across North America.

  • The company partners with over 1,400 retail grocery banners to offer same-day delivery from stores. This gives it access to over 85% of the U.S. grocery market.

  • Instacart makes money by charging service fees to customers. It also recently launched an Instacart+ subscription service.

  • The company filed IPO paperwork in 2022 but has delayed going public due to market conditions. Its proposed share price values Instacart at $8.6B to $9.3B.

  • Instacart aims to bring more of the grocery industry online. It sees future growth as online grocery shopping increases from just 12% of sales today.

foxbusiness.com
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