Business Times: Instacart is Now Worth US$17.7b

(Image Source: Instacart)

In a new private funding round, Instacart’s valuation has more than doubled to US$17.7 billion since the start of the pandemic outbreak. 

The grocery-delivery start-up was founded in 2012 when grocery delivery was more of a luxury for consumers. Since the pandemic, Instacart saw a surge in demand as consumers were all staying home. In May, Instacart revealed to Bloomberg that they were on track to hit more than US$35 billion in grocery sales this year. 

Instacart is now available in more than 85% of US households and more than 70% in Canada. They have also added new stores recently, such as  7-Eleven and Sephora.

Do you think that grocery delivery services will be the next e-commerce sensation?

Source: Instacart valuation jumps to US$17.7b in grocery investment


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