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Instacart was started by Apoorva Mehta, a former [[Amazon.com|Amazon]] employee.<ref>{{cite news |url=http://blogs.wsj.com/venturecapital/2012/10/25/instacart-bags-2-3m-to-become-the-amazon-of-groceries/ |title=Instacart Bags $2.3M to Become the Amazon of Groceries |newspaper=[[Wall Street Journal]] |date=October 25, 2012 |accessdate=19 January 2016 |author=<!--Staff writer(s); no by-line.--> |subscription=yes}}</ref> The company launched its service in San Francisco, Mountain View and Palo Alto.<ref>{{cite news |url=http://www.sfgate.com/food/article/Concierge-grocery-shopping-4340149.php |title=Concierge grocery shopping |date=8 March 2013 |newspaper=[[San Francisco Chronicle]] |accessdate=19 January 2016 |first=Valerie |last=Demicheva}}</ref> The [[startup company]] has a $2 billion [[Valuation (finance)|valuation]] by investors as of May 2015.<ref name=NYT42915 /> Investors include [[Kleiner Perkins Caufield & Byers]] (KPCB), [[Comcast#Venture capital|Comcast Ventures]], Dragoneer Investment Group, [[Joshua Kushner|Thrive Capital]], [[Chris R. Hansen|Valiant Capital]], [[Andreessen Horowitz]], [[Khosla Ventures]], [[Sequoia Capital]], [[Y Combinator (company)|Y Combinator]] and Angel Investor Martin Romero. As of January 2015 total funding was about $275M.<ref name=InstacartCFunding>{{cite press release |title=We’ve Closed $220M Series C Round of Financing Led by Kleiner Perkins Caufield & Byers |url=http://news.instacart.com/2015/01/13/series-c-round/ |website=Instacart |accessdate=May 7, 2015 |date=January 13, 2015 |author=<!--Staff writer(s); no by-line.--> |quote=Yesterday we announced that we’ve closed a $220M round of Series C financing led by Kleiner Perkins Caufield & Byers (KPCB). Other participants in the round include Comcast Ventures, Dragoneer Investment Group, Thrive Capital, Valiant Capital and previous investors Andreessen Horowitz, Khosla Ventures and Sequoia. This brings our total funding to date to approximately $275M.}}</ref> At that time, [[Forbes magazine]] named Instacart "the Most Promising Company in America".<ref name=Forbes2015>{{cite news |first=Brian |last=Solomon |title=America's Most Promising Company: Instacart, The $2 Billion Grocery Delivery App |magazine=[[Forbes]] |accessdate=May 11, 2015 |url=http://www.forbes.com/sites/briansolomon/2015/01/21/americas-most-promising-company-instacart-the-2-billion-grocery-delivery-app/ |date=January 21, 2015}}</ref> In 2016, Whole Foods Market Inc. invested in Instacart in conjunction with its partnership.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2016-09-23/whole-foods-invests-in-instacart-at-2014-valuation |title=Whole Foods Invests in Instacart at 2014 Valuation |website=[[Bloomberg News]] |access-date=2016-10-19 |first1=Ellen |last1=Huet |first2=Alex |last2=Barinka |first3=Craig |last3=Giammona |last-author-amp=yes |date=September 23, 2016}}</ref>
Instacart was started by Apoorva Mehta, a former [[Amazon.com|Amazon]] employee.<ref>{{cite news |url=http://blogs.wsj.com/venturecapital/2012/10/25/instacart-bags-2-3m-to-become-the-amazon-of-groceries/ |title=Instacart Bags $2.3M to Become the Amazon of Groceries |newspaper=[[Wall Street Journal]] |date=October 25, 2012 |accessdate=19 January 2016 |author=<!--Staff writer(s); no by-line.--> |subscription=yes}}</ref> The company launched its service in San Francisco, Mountain View and Palo Alto.<ref>{{cite news |url=http://www.sfgate.com/food/article/Concierge-grocery-shopping-4340149.php |title=Concierge grocery shopping |date=8 March 2013 |newspaper=[[San Francisco Chronicle]] |accessdate=19 January 2016 |first=Valerie |last=Demicheva}}</ref> The [[startup company]] has a $2 billion [[Valuation (finance)|valuation]] by investors as of May 2015.<ref name=NYT42915 /> Investors include [[Kleiner Perkins Caufield & Byers]] (KPCB), [[Comcast#Venture capital|Comcast Ventures]], Dragoneer Investment Group, [[Joshua Kushner|Thrive Capital]], [[Chris R. Hansen|Valiant Capital]], [[Andreessen Horowitz]], [[Khosla Ventures]], [[Sequoia Capital]], [[Y Combinator (company)|Y Combinator]] and Angel Investor Martin Romero. As of January 2015 total funding was about $275M.<ref name=InstacartCFunding>{{cite press release |title=We’ve Closed $220M Series C Round of Financing Led by Kleiner Perkins Caufield & Byers |url=http://news.instacart.com/2015/01/13/series-c-round/ |website=Instacart |accessdate=May 7, 2015 |date=January 13, 2015 |author=<!--Staff writer(s); no by-line.--> |quote=Yesterday we announced that we’ve closed a $220M round of Series C financing led by Kleiner Perkins Caufield & Byers (KPCB). Other participants in the round include Comcast Ventures, Dragoneer Investment Group, Thrive Capital, Valiant Capital and previous investors Andreessen Horowitz, Khosla Ventures and Sequoia. This brings our total funding to date to approximately $275M.}}</ref> At that time, [[Forbes magazine]] named Instacart "the Most Promising Company in America".<ref name=Forbes2015>{{cite news |first=Brian |last=Solomon |title=America's Most Promising Company: Instacart, The $2 Billion Grocery Delivery App |magazine=[[Forbes]] |accessdate=May 11, 2015 |url=http://www.forbes.com/sites/briansolomon/2015/01/21/americas-most-promising-company-instacart-the-2-billion-grocery-delivery-app/ |date=January 21, 2015}}</ref> In 2016, Whole Foods Market Inc. invested in Instacart in conjunction with its partnership.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2016-09-23/whole-foods-invests-in-instacart-at-2014-valuation |title=Whole Foods Invests in Instacart at 2014 Valuation |website=[[Bloomberg News]] |access-date=2016-10-19 |first1=Ellen |last1=Huet |first2=Alex |last2=Barinka |first3=Craig |last3=Giammona |last-author-amp=yes |date=September 23, 2016}}</ref>


As of April 2015, the firm had about 200 employees. Actual shopping and delivery is done primarily by [[independent contractor]]s, though a new policy will allow some Instacart shoppers to choose to be part-time employees.<ref name="NYT52114">{{cite news |first=Farhad |last=Manjoo |title=Grocery Deliveries in Sharing Economy |url=http://www.nytimes.com/2014/05/22/technology/personaltech/online-grocery-start-up-takes-page-from-sharing-services.html |accessdate=May 7, 2015 |newspaper=[[The New York Times]] |date=May 21, 2014 |quote=It operates according to a decentralized business model that borrows from services like Uber, Airbnb and other firms in the so-called sharing economy.}}</ref><ref>{{cite web |title=The Uber effect: Instacart shifts away from contract workers |url=http://money.cnn.com/2015/06/22/technology/instacart-employee-option/ |website=[[CNN Money]] |first=Sarah Ashley |last=O'Brien}}</ref> During 2014, Instacart expanded to 15 cities: Atlanta; Austin; Boston; Boulder; Chicago; Denver; Houston; Los Angeles; New York City; Philadelphia; Portland, Oregon; San Francisco; San Jose; Seattle and Washington, DC, with plans to expand further in 2015.<ref name="NYT42915">{{cite news |first=Farhad |last=Manjoo |title=Instacart's Bet on Online Grocery Shopping |url=http://www.nytimes.com/2015/04/30/technology/personaltech/instacarts-bet-on-online-grocery-shopping.html |accessdate=May 7, 2015 |newspaper=[[The New York Times]] |date=April 29, 2015 |quote=Last year, it grew from serving just a few markets to 15 cities, and this year, it plans to expand to even more.}}</ref> In September 2015, the company hired Ravi Gupta as its first CFO.<ref>{{cite web |last1=Loizos |first1=Connie |title=Instacart Hires Its First CFO: Ravi Gupta |url=http://techcrunch.com/2015/09/29/instacart-hires-its-first-cfo-ravi-gupta/ |website=[[TechCrunch]] |date=September 29, 2015 |accessdate=30 September 2015}}</ref> Instacart raised its customer prices by 50% in December 2015, then a few months later the company cut by 50% its payments to couriers.<ref>{{cite news |url=http://www.wsj.com/articles/grocery-delivery-startup-instacartcuts-pay-for-couriers-1457715105 |title=Grocery-Delivery Startup Instacart Cuts Pay for Couriers: Instacart is the latest on-demand startup to try to contain costs in a tighter funding environment |newspaper=[[Wall Street Journal]] |date=March 11, 2016 |first=Greg |last=Bensinger |subscription=yes}}</ref>
As of April 2015, the firm had about 200 employees. Actual shopping and delivery is done primarily by [[independent contractor]]s, though a new policy will allow some Instacart shoppers to choose to be part-time employees.<ref name="NYT52114">{{cite news |first=Farhad |last=Manjoo |title=Grocery Deliveries in Sharing Economy |url=http://www.nytimes.com/2014/05/22/technology/personaltech/online-grocery-start-up-takes-page-from-sharing-services.html |accessdate=May 7, 2015 |newspaper=[[The New York Times]] |date=May 21, 2014 |quote=It operates according to a decentralized business model that borrows from services like Uber, Airbnb and other firms in the so-called sharing economy.}}</ref><ref>{{cite web |title=The Uber effect: Instacart shifts away from contract workers |url=http://money.cnn.com/2015/06/22/technology/instacart-employee-option/ |website=[[CNN Money]] |first=Sarah Ashley |last=O'Brien}}</ref> During 2014, Instacart expanded to 15 cities: Atlanta; Austin; Boston; Boulder; Chicago; Denver; Houston; Los Angeles; New York City; Philadelphia; Portland, Oregon; San Francisco; San Jose; Seattle and Washington, DC, with plans to expand further in 2015.<ref name="NYT42915">{{cite news |first=Farhad |last=Manjoo |title=Instacart's Bet on Online Grocery Shopping |url=http://www.nytimes.com/2015/04/30/technology/personaltech/instacarts-bet-on-online-grocery-shopping.html |accessdate=May 7, 2015 |newspaper=[[The New York Times]] |date=April 29, 2015 |quote=Last year, it grew from serving just a few markets to 15 cities, and this year, it plans to expand to even more.}}</ref> In September 2015, the company hired Ravi Gupta as its first CFO.<ref>{{cite web |last1=Loizos |first1=Connie |title=Instacart Hires Its First CFO: Ravi Gupta |url=http://techcrunch.com/2015/09/29/instacart-hires-its-first-cfo-ravi-gupta/ |website=[[TechCrunch]] |date=September 29, 2015 |accessdate=30 September 2015}}

==References==
==References==
{{reflist|30em}}
{{reflist|30em}}

Revision as of 04:36, 11 February 2017

Instacart is an Internet-based grocery delivery service.

Instacart
Type of site
Private
Founded2012; 12 years ago (2012)
HeadquartersSan Francisco, California, United States
Area servedSelect U.S. cities: Atlanta, Austin (TX), Boston, Boulder (CO), Charlotte, Chicago, Denver, Houston, Irvine (CA), Los Angeles, Minneapolis New York City, Philadelphia, Portland (OR), San Francisco Bay Area, San Diego, Seattle, Washington, D.C. and more
Founder(s)Apoorva Mehta, Max Mullen, Brandon Leonardo
IndustryRetail
ServicesGrocery Delivery
URLinstacart.com
Native client(s) oniOS, Android

The service

Instacart's service is mainly provided through a smartphone app, available on iOS and Android platforms, apart from its website. Customers can pay with Android Pay and Apple Pay on their respective platforms.[1] Initially Instacart shoppers simply went to a store and purchased the ordered items at retail and, in addition to the delivery charge, added a markup of 10 to 20 percent. As the business has developed, the firm has established relationships with grocery firms which share their (store) existing markup, allowing Instacart users to shop at in-store prices.[2][3]

Stores

History

Instacart was started by Apoorva Mehta, a former Amazon employee.[18] The company launched its service in San Francisco, Mountain View and Palo Alto.[19] The startup company has a $2 billion valuation by investors as of May 2015.[3] Investors include Kleiner Perkins Caufield & Byers (KPCB), Comcast Ventures, Dragoneer Investment Group, Thrive Capital, Valiant Capital, Andreessen Horowitz, Khosla Ventures, Sequoia Capital, Y Combinator and Angel Investor Martin Romero. As of January 2015 total funding was about $275M.[20] At that time, Forbes magazine named Instacart "the Most Promising Company in America".[21] In 2016, Whole Foods Market Inc. invested in Instacart in conjunction with its partnership.[22]

As of April 2015, the firm had about 200 employees. Actual shopping and delivery is done primarily by independent contractors, though a new policy will allow some Instacart shoppers to choose to be part-time employees.[23][24] During 2014, Instacart expanded to 15 cities: Atlanta; Austin; Boston; Boulder; Chicago; Denver; Houston; Los Angeles; New York City; Philadelphia; Portland, Oregon; San Francisco; San Jose; Seattle and Washington, DC, with plans to expand further in 2015.[3] In September 2015, the company hired Ravi Gupta as its first CFO.<ref>Loizos, Connie (September 29, 2015). "Instacart Hires Its First CFO: Ravi Gupta". TechCrunch. Retrieved 30 September 2015.

References

  1. ^ "Instacart Announces Integration with Apple Pay". Instacart (Press release). September 9, 2014.
  2. ^ "Greater Pricing Transparency". Instacart (Press release). April 23, 2015. Retrieved May 7, 2015. When that badge says "Prices are same as in-store" (which is most of the time!), it means that the prices for that store's items on Instacart are, on average, the same as the prices that retailer regularly charges in their physical stores (more details below). For stores where the prices on Instacart represent a markup over in-store prices, we clearly display that prices "May be higher than in-store."
  3. ^ a b c Manjoo, Farhad (April 29, 2015). "Instacart's Bet on Online Grocery Shopping". The New York Times. Retrieved May 7, 2015. Last year, it grew from serving just a few markets to 15 cities, and this year, it plans to expand to even more.
  4. ^ "We've Partnered with Whole Foods Market® to Offer One-Hour Delivery Across 15 Major U.S. Cities". Instacart (Press release). September 7, 2014.
  5. ^ "Harris Teeter Grocery Delivery". Instacart.
  6. ^ "BJ's Wholesale Club Grocery Delivery". Instacart.
  7. ^ "Publix Grocery Delivery". Instacart.
  8. ^ Lorek, Laura (1 September 2015). "HEB Partners with Instacart to Deliver Groceries in Austin". Silicon Hills News. Retrieved 2015-11-18.
  9. ^ "We've Partnered with Petco to offer One-Hour Delivery in San Francisco and Boston". Instacart (Press release). January 14, 2015.
  10. ^ "Petco and Instacart Add Additional Markets, Now Offering One-Hour Delivery in 14 Cities". Instacart (Press release). April 28, 2015.
  11. ^ "HMart Grocery Delivery". Instacart.
  12. ^ Woodward, Curt (June 22, 2015). "Instacart hires grocery shoppers to part-time jobs amid contract-labor disputes". Boston Globe. Retrieved 19 January 2016.
  13. ^ "Ralphs Grocery Delivery". Instacart.
  14. ^ "Market Basket Grocery Delivery". Instacart.
  15. ^ Shropshire, Corilyn (July 8, 2015). "Instacart expanding delivery in western suburbs". Chicago Tribune. Retrieved 9 July 2010.
  16. ^ "Instacart rolls out grocery delivery service in Indianapolis". Indianapolis Business Journal. August 25, 2015.
  17. ^ "Instacart Expands to Minneapolis and Partners with Target". Instacart (Press release). September 15, 2015. Retrieved 24 September 2015.
  18. ^ "Instacart Bags $2.3M to Become the Amazon of Groceries". Wall Street Journal. October 25, 2012. Retrieved 19 January 2016. {{cite news}}: Unknown parameter |subscription= ignored (|url-access= suggested) (help)
  19. ^ Demicheva, Valerie (8 March 2013). "Concierge grocery shopping". San Francisco Chronicle. Retrieved 19 January 2016.
  20. ^ "We've Closed $220M Series C Round of Financing Led by Kleiner Perkins Caufield & Byers". Instacart (Press release). January 13, 2015. Retrieved May 7, 2015. Yesterday we announced that we've closed a $220M round of Series C financing led by Kleiner Perkins Caufield & Byers (KPCB). Other participants in the round include Comcast Ventures, Dragoneer Investment Group, Thrive Capital, Valiant Capital and previous investors Andreessen Horowitz, Khosla Ventures and Sequoia. This brings our total funding to date to approximately $275M.
  21. ^ Solomon, Brian (January 21, 2015). "America's Most Promising Company: Instacart, The $2 Billion Grocery Delivery App". Forbes. Retrieved May 11, 2015.
  22. ^ Huet, Ellen; Barinka, Alex; Giammona, Craig (September 23, 2016). "Whole Foods Invests in Instacart at 2014 Valuation". Bloomberg News. Retrieved 2016-10-19. {{cite news}}: Unknown parameter |last-author-amp= ignored (|name-list-style= suggested) (help)
  23. ^ Manjoo, Farhad (May 21, 2014). "Grocery Deliveries in Sharing Economy". The New York Times. Retrieved May 7, 2015. It operates according to a decentralized business model that borrows from services like Uber, Airbnb and other firms in the so-called sharing economy.
  24. ^ O'Brien, Sarah Ashley. "The Uber effect: Instacart shifts away from contract workers". CNN Money.

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