The grocery-delivery app was expected to go public early this year, but is now considering waiting until the majority of American adults have been vaccinated against COVID-19 to assuage investor concerns over whether the company will be able to continue its pace of growth post-pandemic. (The Information)
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The grocery-delivery app was expected to go public early this year, but is now considering waiting until the majority of American adults have been vaccinated against COVID-19 to assuage investor concerns over whether the company will be able to continue its pace of growth post-pandemic. (The Information)
Talking point: Instacart doubled its valuation to US$39 billion this month, with a US$265-million funding round from existing investors, including Andreessen Horowitz, Sequoia Capital and D1 Capital Partners. Fuelled by pandemic-inspired interest in online delivery services, online orders have tripled compared to 2019, and now account for 10 per cent of the US$1-trillion grocery industry. With the end of the pandemic in sight as the vaccine rollout continues, companies like Instacart that experienced a COVID-19 sales bump are seeking to assure investors that growth will continue once restrictions lift.
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