Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Instacart Set To Double Grocery Orders To Over $3bn: Reports

By Steve Wynne-Jones
Share this article
Instacart Set To Double Grocery Orders To Over $3bn: Reports

Grocery delivery startup Instacart is on track to surpass $3 billion in grocery orders this year, more than double its business from last year, news website The Information has reported.

Instacart, which was founded in 2012 by a former Amazon employee, has been growing steadily in the last few years as it partnered with a number of major grocery retailers like Walmart Inc and discount chain Aldi Inc to provide same-day delivery services.

The company had hiccups when Whole Foods, its key partner, was acquired by Amazon.com Inc last year following which the online retailer began offering its own delivery services for the upscale grocery chain's products.

The move by Amazon to enter the grocery space, however, spurred other retailers to beef up their online and delivery services through tie-ups with services like Instacart.

Impressive Growth

Instacart founder and Chief Executive Officer Apoorva Mehta said in September the company's business had grown 135 percent over the last year.

ADVERTISEMENT

The $3 billion figure represents the total value of groceries purchased on Instacart along with delivery, service and membership fees, the technology news website reported https://www.theinformation.com/articles/instacart-expected-to-top-3-billion-in-orders-this-year.

Instacart declined to comment on the report.

In April, the company said it had closed a $350 million financing round, bringing its valuation to $4.35 billion.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.