(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
