Insta-what? If you’re not already familiar with Instacart, you soon will be. The company has been growing at an astonishing rate since it was founded in 2012, and it’s now valued at $7 billion. That’s thanks in part to the fact that Instacart is one of the most convenient ways to shop for groceries. instacarteidelsonbloomberg
Instacart, the grocery delivery service, is now available in New York City. The service, which is already available in San Francisco and Los Angeles, allows users to order groceries online and have them delivered to their doorsteps within two hours. instacarteidelsonbloomberg
Instacart was founded in 2012 by Apoorva Mehta, an engineer who was working at Amazon.com Inc. at the time.
Instacart, the grocery delivery startup, is in talks to sell a majority stake to investor Nelson Peltz, people familiar with the matter said. A deal would value Instacart at around $10 billion and give Peltz a seat on the board, the sources said.
The move comes as Instacart faces intense pressure to turn a profit amid the pandemic. The company has been forced to raise prices and cut costs as it races to expand its business.