[TRUISM]

Instacart (CART) Reported A 12.37% Operating Margin Last Year—What’s The Real Story?
By Samuel Moore-December 6, 2024
LINK




Deutsche Bank has recently initiated Instacart (CART) stock to Hold rating, as announced on December 3, 2024, according to Finviz. Earlier, on October 16, 2024, Jefferies had initiated the stock to Hold, setting a price target of $43. Raymond James also initiated Mkt Perform rating.

Additionally, Cantor Fitzgerald initiated Overweight rating on September 5, 2024, with a target price of $45. Wolfe Research analysts, in their report published on July 16, 2024, also initiated Peer Perform rating for Instacart’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.

[TRUISM]

Instacart Price Target Raised To $56 From $49 At Loop Capital
TipRanks-Dec. 9, 2024, 08:33 AM
LINK



Loop Capital raised the firm’s price target on Instacart (CART) to $56 from $49 and keeps a Buy rating on the shares.

The firm contends that the company is positioned to maintain leadership in helping grocers migrate their businesses to better serve digital consumers, also noting that Walmart’s (WMT) success in the sector is encouraging and likely signals an accelerated pace of development for other grocers, the analyst tells investors in a research note.

Grocers that lean into digitization have potential to improve operational efficiency and gain share against slower moving peers, the firm adds.

[EnchantedTitan62]

Was just featured on CBS Sunday Morning. Never heard of it before, did a bit of DD, I'm in tomorrow.

[Greedy G]

~bought the 11/15 $61 calls @.20c

[Bushmantrader]

Beautiful chart. Looking forward to earnings next week.

[Monksdream]

CART, new 52 week high

[TRUISM]

UBER EATS TO POWER RESTAURANT DELIVERY ON INSTACART
UBER PR

May 07, 2024
Partnership gives Instacart customers easy access to food delivery from hundreds of thousands of Uber Eats restaurant partners across the U.S.

Instacart+ members now get even more value, with $0 delivery on grocery and restaurant orders over $35

SAN FRANCISCO--(BUSINESS WIRE)-- Instacart (Nasdaq: CART) and Uber Technologies, Inc. (NYSE: UBER) today announced a strategic partnership to bring Uber Eats restaurant delivery to Instacart customers. In the coming weeks, Instacart customers nationwide will be able to use the Instacart app to order from hundreds of thousands of restaurants, powered by Uber Eats.



The experience will be featured through a new “Restaurants” tab in the Instacart app, providing a user-friendly interface that allows consumers to choose from a selection of nearby restaurants, browse menus, place orders, and track deliveries in real-time.

Customers will be able to order groceries for the week from Instacart’s more than 1,500 national, regional, and local retail banners across more than 85,000 stores – all fulfilled by Instacart and its shopper community – as well as dinner for the night from hundreds of thousands of restaurants, which will be fulfilled by Uber Eats and the couriers on its platform. Instacart+ members will also get even more value from their membership at no additional cost, with $0 delivery on grocery and restaurant orders over $35.

“Our goal is to make it effortless for people to go anywhere and get anything,” said Dara Khosrowshahi, CEO of Uber. “We’re excited that this new strategic partnership with Instacart will bring the magic of Uber Eats to even more consumers, drive more business for restaurants, and create more earnings opportunities for couriers.”

“Through this partnership, Instacart customers now have access to both the best online grocery selection in the U.S. and restaurant delivery, making it even easier for them to conveniently tackle all their food needs from a single app,” said Fidji Simo, CEO and Chair of Instacart. “Whether it’s ingredients for a beloved family recipe, a prepared meal from a nearby grocer or takeout from a favorite restaurant – customers can now get the food they want, from the retailers and restaurants they love, all within the Instacart app.”

For Uber, powering restaurant delivery in the Instacart app is another way to help drive more orders to Uber Eats restaurant partners. This new channel also enables Uber to extend its leading restaurant selection to millions of customers across the U.S., including families in suburban markets that use Instacart.

This partnership also extends the efforts of both companies to create technologies and solutions that support brick-and-mortar businesses. Through this launch, Uber and Instacart are helping restaurants and retailers grow by increasing opportunities for them to reach new customers online and drive more sales through an even more engaging Instacart experience.

[TRUISM]

INSTACART APPOINTS VICTORIA DOLAN TO BOARD OF DIRECTORS
PR Newswire-Tue, Apr 16, 2024, 9:15 AM EDT
LINK



SAN FRANCISCO, April 16, 2024 /PRNewswire/ -- Instacart (NASDAQ: CART), the leading grocery technology company in North America, today announced that Victoria Dolan, former CFO of Revlon, has joined the company's Board of Directors.

Dolan is a seasoned financial expert and business leader with more than 30 years of experience in the consumer packaged goods (CPG) and retail industries. Separately, after years of dedicated service, Jeff Jordan, General Partner at Andreessen Horowitz, and Barry McCarthy, President and Chief Executive Officer of Peloton, will retire from Instacart's Board of Directors when their terms expire at the company's 2024 Annual Meeting of Stockholders.

"Victoria's decades of experience and deep understanding of the CPG and retail industries will be invaluable as we continue to introduce new technology solutions for our partners.

We have a bold vision to build the technologies that power every single grocery transaction, and Victoria's expertise will be an incredible asset as we continue to transform the grocery shopping experience," said Instacart CEO and Chair Fidji Simo. "I also want to thank Jeff and Barry for their immeasurable contributions to Instacart. They both brought unparalleled expertise to our Board of Directors as we've grown and entered the public market, and we're grateful for their years of support."

Dolan's professional experience spans strategic planning, finance, supply chain, and operations at several respected companies. She served as CFO of Revlon for nearly five years, and prior to that, she spent nearly 10 years at Colgate-Palmolive, serving as the company's Chief Transformation Officer, Corporate Controller and Principal Accounting Officer, and Colgate-Palmolive Europe's Vice President of Finance and Strategic Planning.

Prior to Colgate-Palmolive, Dolan held multiple management positions with Marriott International, Inc. and The Coca-Cola Company. She currently sits on the Board of Directors for Stericycle, a company specializing in regulated waste management and compliance services, and advises several nonprofits on various financial-related matters.

"I'm thrilled to join Instacart's Board of Directors," said Dolan. "The CPG and retail industries have changed significantly over the last several decades, but never more so than over the last few years. In today's business environment, companies in this space need a technology partner they can trust to continue to deliver for them and their customers in new ways — and I firmly believe that Instacart is that company. I'm looking forward to working with Fidji and the rest of the Board of Directors to bring this company's ambitious vision to life."

Jordan's and McCarthy's Board terms expire at Instacart's 2024 Annual Meeting of Stockholders, and they will not stand for re-election. Jordan joined Instacart's Board of Directors in 2014, advising the company from its early start-up days through its public market debut in September 2023. McCarthy joined Instacart's Board of Directors in 2021, advising the company during a critical period of maturation as it charted a path to sustained, profitable growth.

Instacart expects that Dolan will replace McCarthy as Chair of its Audit Committee of the Board of Directors, effective as of its 2024 Annual Meeting of Stockholders.

In addition to Dolan, Jordan and McCarthy, Instacart's Board of Directors also currently includes Instacart CEO and Chairperson Fidji Simo; Ravi Gupta, Partner at Sequoia Capital; Meredith Kopit Levien, President and CEO of The New York Times Company; Michael Moritz, Former Partner at Sequoia Capital; Lily Sarafan, Co-founder and Executive Chair of The Key; Frank Slootman, Chairman of Snowflake; and Daniel Sundheim, Founder and CIO of D1 Capital Partners.



TRUISM ENDORSED

[TRUISM]

INSTACART RECEIVES TACTICAL UPGRADE FROM BERNSTEIN, PT HIKED
Investing.com
Stock Market News
2024-03-14
LINK


Bernstein analysts made a tactical upgrade on Instacart (NASDAQ: CART ) stock from Market Perform to Outperform and lifted the target price to $43 from $30.

The move came following the delivery company’s Q4 print which offered “a more favorable view of the stock as we see room for Gross Transaction Value (“GTV”) growth to exceed consensus expectations,” the analysts wrote.

“CART is lapping the impact of EBT SNAP headwinds and the drag from its 2020/21 COVID cohorts is abating. Q1 guidance implies HSD to LDD GTV growth is feasible near-term, yet consensus has written off the possibility of >10%. “

The analysts noted that the current market consensus is projecting CART to maintain a GTV growth rate of 5-6% for the foreseeable future.
However, they believe that guidance provided in the second or third quarter could serve as a catalyst for positive revisions to GTV expectations.

With the stock currently valued at 10 times adjusted EBITDA, such an adjustment is seen as sufficient for the stock “to re-rate higher.”

[TRUISM]

IGA ANNOUNCES NEW NATIONAL PARTNERSHIP WITH INSTACART
Supermarket News Staff | Mar 12, 2024
LINK



The partnership is intended to make it easier for IGA’s U.S. member stores to access Instacart’s technologies, insights, and benefits


The Independent Grocers Alliance (IGA) has announced a partnership with Instacart. The new partnership is intended to make it easier for IGA’s 2,000-plus member stores across the U.S to access Instacart’s suite of technologies, insights, and benefits.

“IGA’s partnership with Instacart gives our independent retail members access to a dedicated team and a suite of capabilities and services to help drive greater omnichannel efficiency and effectiveness,” IGA VP brand development Michael La Kier said.

IGA members will now have a direct line to Instacart Platform and Connected Stores technologies, including:

* Storefront, Instacart’s storefront white-label solution
* Caper Carts, artificial intelligence-powered (AI) smart carts
* Scan and Pay, allowing customers to checkout in store with their mobile phone
* Carrot Tags, electronic shelf labels with pick-to-light capabilities for employees, Instacart shoppers, and in-store customers
* FoodStorm, helping manage food service and order ahead offerings
* Out of Stock Insights, alerting stores in real time when an item is out of stock to help improve in-store sales
* Eversight, an SaaS platform that leverages dynamic rules management, AI-powered experimentation, and an easy merchant interface to drive business performance at scale across all channels
* Fulfillment as a Service, expands the ecommerce experience beyond delivery with curbside pickup services and overflow pick and pack support

Members of the Independent Grocers Alliance will also have access to Instacart’s App and website Marketplace, which gives retailers a way to connect with customers through the company’s marketplace and offer same-day delivery in as fast as an hour.

Several IGA retailers have already deployed Instacart solutions. Geissler’s Supermarkets, a seven-store IGA retailer with locations in Connecticut and Massachusetts, uses Instacart’s Storefront white-label solution to power their ecommerce platform, as well as plans to deploy Caper Carts, AI-powered smart carts, replacing most of its traditional shopping carts over the coming months.

With the new partnership, Instacart will have Merrick Rosner, head of revenue, local independent grocery join IGA’s National Retailer Advisory Board.

[TRUISM]

3 STOCKS ON THEIR WAY TO DOUBLING IN 2024 - (EXCERPT)
Story by Rick Munarriz- MARCH 19, 2024
LINK

3. Instacart: Up 59%

I wasn't the only one initially hesitant when Instacart hit the market in the fall of last year. Did we really need another publicly traded player in the cutthroat world of third-party delivery apps? The market's initial reaction was a yawn. Instacart went public at $30, and that's exactly where it closed at the end of its first week of trading.

Business hasn't improved since its trading floor premiere. The same company with a prospectus that promoted a compound annual growth rate of 80% between 2018 and 2022 in its prospectus has slowed. Revenue rose just 19% in 2023, half of the growth it posted the year before. In its first quarter as a public company, sales rose a mere 6%, and it announced layoffs in February.

But Instacart knows a thing or two about the grocery aisle, and its saving grace is that its business model is already profitable. It also dominates its niche. Analysts see revenue growing a modest 8% this year and 9% come 2025, but they also see profitability improving sharply in that time. Don't obsess about the ingredients. Just enjoy the recipe.

[TRUISM]

INSTACART EARNS MEDIA RATING COUNCIL ACCREDITATION
PR Newswire-Tue, March 19, 2024, 9:00 AM EDT
LINK



New MRC Accreditation for Instacart Ads Impression, Click, and Viewability Metrics Gives Brands Trusted Metrics for Retail Media



SAN FRANCISCO, March 19, 2024 /PRNewswire/ -- Instacart (Nasdaq: CART), the leading grocery technology company in North America, announced its first advertising accreditation from the Media Rating Council (MRC). As of today, the MRC has granted Instacart accreditation for impression, click, and viewability metrics across the following advertising formats: Sponsored Product, Display, Shoppable Display, and Shoppable Video. Instacart is one of the first grocery tech companies - and one of few retail media networks - to receive MRC accreditation.

Today, Instacart works with more than 5,500 CPG brand partners to help them drive awareness, connect consumers with the products they love, and inspire consumers as they browse. Instacart is deeply committed to providing value for its brand partners, including delivering transparent measurement solutions. As part of this goal to provide trusted, standardized metrics, Instacart completed an in-depth, independent audit of its measurement for impression, click and viewability metrics. This was reviewed by an audit committee of MRC member organizations, and resulted in accreditation by the MRC1.

The MRC is a non-profit organization that has established standards for media and advertising measurement, and administered an accreditation process to verify compliance with those standards, since 1963. This accreditation means that Instacart's ad solutions meet the MRC's rigorous industry standards for digital advertising measurement, providing brands with even more confidence that their Instacart Ads campaigns are delivering results they can trust.

"Advertisers are overwhelmed with choice when it comes to retail media networks. As retail media continues to grow, trusted measurement is increasingly important for advertisers to make decisions about where to invest. Instacart is committed to building the tools and measurement capabilities that help our partners make the most informed, strategic decisions. We're proud of this accreditation and look forward to continuing to work with the MRC to maintain this level of quality and rigor in our advertising offering," said Chris Rogers, Chief Business Officer, Instacart

George W. Ivie, the Executive Director and CEO of MRC, said, "We congratulate Instacart for achieving MRC accreditation of Display and Video Impressions, Clicks and Viewable Impressions across the environments and in-scope placements served on the Instacart Marketplace. This demonstrates commitment to ensuring its advertisers feel confident that Instacart metrics comply with industry-accepted standards for quality measurement."

Instacart's impression, click, and viewability metrics are now accredited by the MRC across Sponsored Product, Display, Shoppable Display, and Shoppable Video ad placements served on the Instacart Marketplace in desktop, mobile web, and mobile app environments in both the U.S. and Canada.

Instacart's discovery ad products, like Shoppable Display and Shoppable Video ads, bring together rich media, storytelling and inspiration that drive conversion and results on Instacart. These upper-funnel products complement Instacart's Sponsored Product offering, which allows brands to secure premium digital shelf space and maximize sales and category share.

Today's news builds on Instacart's independent work with key third-party verification leaders like DoubleVerify (DV) and Integral Ad Science (IAS), including technical integrations for viewability and invalid traffic (IVT) measurement2. Instacart will continue to work with the MRC and other industry organizations to build and deliver high-quality ad measurement solutions to all of its CPG brand partners.

[TRUISM]

DOORDASH, INSTACART PRICES ON THE RISE FOR SEATTLEITES FOLLOWING APP-BASED WORKER LAW
By Louie Tran-Fri, January 12, 2024, 11:02 PM EST
LINK



Customers who use apps including Uber Eats, Doordash, Instacart in the Emerald City will have to pay more beginning Saturday due to a new Seattle law that’s aimed to help app-based workers.



NEW LAW:

Seattle City Council passed the App-Based Worker Minimum Payment Ordinance, SMC 8.37, on May 31, 2022.

The law goes into effect Saturday, January 13, 2024, according to the City’s website.

According to the website, the ordinance applies to certain app-based workers (sometimes referred to as gig workers) and provides several rights and protections for covered workers, including the following:

· Minimum Payment: Right to minimum pay based on the time worked and miles travelled for each offer.

· Transparency: Right to upfront disclosures of offer-information and right to receipt and payment records.

· Flexibility: Right to access the network platform without limitations (except for health and safety limitations), right to not be penalized for limiting availability or refusing offers, and the right to cancel an offer with cause.

Network companies must pay the greater of:

· Minimum per-minute amount of $.044 and minimum per-mile amount of $.74 or

· Minimum per-offer amount of $5

The legislation was sponsored by Lisa Herbold (District 1 – West Seattle/South Park) and Andrew Lewis (District 7 – Pioneer Square to Magnolia), however, both are no longer on the City Council.

APP-BASED COMPANIES:

KIRO 7 News reached out to companies that would be affected, including Uber Eats, Doordash, Instacart, Grubhub, etc.

A spokesperson for each company shared a statement with us:

UBERT EATS:

“Uber supports and advocates for thoughtful earnings standards across the country that help all sides of the marketplace. Unfortunately, this one more than doubles the fees consumers will have to pay which means fewer orders for businesses, and less opportunities for delivery workers.” The spokesperson added, “Uber is supportive of paying couriers the minimum wage plus expenses and has demonstrated its commitment to working with stakeholders to reach that goal, however this earnings standard will do more harm than good.

This policy will undoubtedly make services more costly for eaters, and our modeling is clear that this will result in a loss of hundreds of thousands of orders for small businesses and will price out Seattleites from access to this service. That means a loss of thousands of job opportunities for delivery workers.”

A spokesperson added that customers will see a new $5 local operating fee in addition to an increased service fee.

DOORDASH:

“There are consequences to bad policy. The previous City Council left a legacy of higher costs and fees for all Seattleites. As a direct result of the costly and unnecessary rules they imposed, we’ll be introducing a new regulatory response fee on all orders within the city of Seattle. Unfortunately, we expect this will lead to lost revenue for local businesses and fewer earning opportunities for the very workers the regulations are supposed to help. We urge the incoming City Council to reconsider these harmful rules, which are only making the cost-of-living crisis even worse.”

INSTACART:

“Due to new regulations imposed by the Seattle City Council, we’re making several changes to how Instacart operates in Seattle. Some of these changes include reduced service options and pricing increases for customers, as well as pay changes for shoppers. As always, we will work to deliver the best customer and shopper experience despite the limitations put in place by the City Council, and we may need to make additional changes in response to these new set of laws.”

GRUBHUB:

“We’re taking appropriate steps to comply with the new legislation in Seattle while maintaining a sustainable business given the added costs to now operate in the market.”

“Grubhub is making adjustments to ensure our most dedicated delivery partners are available for more delivery opportunities, give more insight into earnings, and ensure they have information about accessibility and oversize items. Grubhub is proactively communicating to Seattle delivery and merchant partners regarding these changes to our platform.”

SMALL RESTAURANT OWNER:

KIRO 7 News spoke with Alexandra Serpanos, the owner of Nikos Gyros in Seattle who partners with app-based companies, including Uber Eats.

“I’m trying to keep this restaurant alive and afloat,” she said. “The margins are so slim. It’s so hard for small businesses and you see small restaurants closing.”

Serpanos said she had partnered with app-based companies, such as Uber Eats around 2021 to expand her customer base to combat the challenges she had faced – inflation, supply chain issues, staffing shortages, etc.

However, when the new law goes into effect, she said her restaurant will take a hit.

“We’re going to be impacted. The customers are going to be impacted.” She added, “I was hoping for that to grow and if people can’t afford it, that’s obviously going to impact my sales.”

“I can’t keep raising prices. There’s only so much people are willing to pay for a gyro or a salad,” she shared.

Serpanos encouraged people to support small local businesses as she and other small business owners navigate this new law.

“It pains me to see so many mom-and-pop shops open for decades and have to close and this is just going to be one more item on that list that’s going to lead to more businesses dissolving.” She added, “Continue to support your local businesses. And if you can’t do it through a delivery service, come in and pick it up yourself.”

KIRO 7 News also spoke with customers to understand how the new law will impact their decisions going forward.

Tybald Jourdan said he does not often order food delivery; however, the new law does not entice him to order on the apps.

“That’s crazy though,” he said. “Since I moved to Seattle it’s $10 extra to $15, plus the money you pay for your food, from what I saw, so with what they’re adding now, yea no thank you.”

Rik Schutte, who often orders food delivery said, “I’m glad to hear there is a focus on the drivers.”

“I’m less likely than to order out. I’m already a little bit weary of ordering out through Uber Eats or Grubhub or what have you because the fees are already pretty high up there. Some places it’s nearly double the cost of what that meal would have been,” Schutte added. “I probably will just try to come in and pick it up myself. So, I don’t know if that really helps the drivers at the end of the day if they’re losing that sale entirely.”



TRUISM

[TRUISM]

INSTACART LAUNCHES BRANDS DATABASE TO CONNECT GROCERS TO CPGs
By Timothy Inklebarger on Nov. 16, 2023
LINK



The database also includes information about product attributes, pricing, sales performance and contact information to establish direct contact with brands, the company said. / Photo courtesy: Shutterstock



Instacart on Thursday announced the release of new tools that will enable consumer packaged goods manufacturers to showcase their products for the delivery company’s network of more than 1,400 retail banners.

The Brand Explorer portal gives the San Francisco-based company’s retail partners the ability to review digital sell sheets with a wide variety of emerging brands and products, and “make smarter decisions when looking for new products to stock their shelves,” Instacart said.

In addition to browsing sell sheets, retailers can also filter their searches to specify particular trends, metrics and assortment gaps.

The database also includes information about product attributes, pricing, sales performance and contact information to establish direct contact with brands, the company said.

“We know that driving distribution in more stores is a significant challenge for emerging brands. They’re working hard to break into a crowded industry, from attending trade shows to cold-calling retailers. Meanwhile, retail category teams are sifting through thousands of new products to find the right fit for their business and customers,” said Chris Rogers, chief business officer at Instacart, in a statement. “The process is still fairly manual and time-consuming for everyone involved. Instacart is well positioned to connect innovative brands with retailers looking to expand their selection, empowering everyone with easy-to-access insights directly within Instacart’s self-serve technology.”

Matt Meloy, vice president of sales at beef jerky company Chomps, said in a statement that its crucial for Chomps' success to share its vision and sales metrics with retailers. “We love that Instacart is creating a new opportunity for retail category managers to easily find brands like ours, see the sales our products are driving—like our new Taco Beef flavor—and connect with our team directly,” Meloy said.

The Brand Explorer portal's debut follows a string of innovations Instacart has rolled out over the last year in advance of its September IPO. They include its integration with e-commerce platform provider Shopify, enabling customers to connect with Instacart Ads products and insights, the company said.

Instacart's retail banners represent more than 80,000 locations in North America.



TRUISM

[TRUISM]

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Instacart (Maplebear Inc.) - CART
By Globe Newswire-November 13, 2023 5:24 PM


NEW YORK, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Instacart (Maplebear Inc.) ("Instacart" or the "Company") CART. Such investors are advised to contact Robert S. Willoughby at newaction @workdog1, ext. 7980.

The investigation concerns whether Instacart and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

On or around September 19, 2023, Instacart conducted its initial public offering ("IPO"), selling 22 million shares of stock priced at $30.00 per share. After initially surging following the Company's IPO, Instacart's stock price declined sharply over the following weeks, with analysts predicting revenue growth of only 7% to 8% in the second half of the year, down sharply from prior periods.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members.

TRUISM

[TRUISM]

MASTERCARD ANNOUNCES INSTACART AND PEACOCK REWARDS PARTNERSHIP
By Kanika Talwar-Mon, October 9, 2023 at 2:04 PM EDT
LINK




Mastercard has announced its partnership for a new set of consumer spending rewards including Instacart and Peacock.

According to a recent Mastercard survey, 85 percent of American consumers have said they own a rewards credit card, with 95 percent of people noting that redeemable rewards and points are the major deciding factor when choosing a credit card.

Mastercard noted that these reward benefits “strategically impact areas where consumers frequently spend.” These benefits add to the existing Mastercard credit cardholder benefits such as rideshare, shopping and travel with partnerships such as Lyft, ShopRunner and more.

World Mastercard and World Elite Mastercard eligible credit cardholders who are new to Instacart+ will receive a free two-month trial and $10 off their second eligible Instacart purchase each month. Furthermore, cardholders will be eligible to receive no delivery fees on orders, reduced service fees and credit back on eligible pickup orders.

“This new embedded benefit builds on Instacart and Mastercard’s strong partnership, which includes powering shopper credit cards and co-branding our consumer credit card,” said Heather Rivera, vice president of corporate development strategy and partnerships at Instacart. “Instacart has become an indispensable service for millions of customers across North America and we’re excited for cardholders to experience the ease and convenience of shopping with Instacart. And with an Instacart+ membership, cardholders will save both time and money through member-only perks.”

Additionally, World Mastercard and World Elite Mastercard eligible credit cardholders new to Peacock Premium will receive a $3 statement credit on Peacock Premium monthly streaming subscriptions. Furthermore, all eligible World Elite Mastercard cardholders will receive a $5 statement credit on Peacock Premium+ monthly streaming subscriptions.

Cardholders will have access to the Mastercard Priceless Experiences such as NBC Universal’s studios and parks across the country, BravoCon and more.

“Now more than ever, consumers are looking for benefits and savings that meet their everyday needs,” said Seema Chibber, executive vice president of credit at Mastercard North America. “By adding on-demand grocery delivery and streaming services to our existing suite of card benefits, we remain committed to providing cardholders a combination of benefits that provide meaningful value and enhance the lifestyles they have built.”




TRUISM

[TRUISM]

INSTACART PARTNERS WITH MOUNT SINAI, LAUNCHES CO-BRANDED MA PLANS WITH ALIGNMENT
By MARISSA PLESCIA-Oct 5, 2023 at 7:41 PM
LINK


Through a partnership with Mount Sinai Solutions, Instacart is offering post-operative and post-partum patients a grocery stipend. Instacart is also launching co-branded Medicare Advantage plans with Alignment Healthcare that address food insecurity issues for seniors.



Photo: vgajic, Getty Images


Instacart launched a new partnership with Mount Sinai Solutions on Wednesday that provides post-operative and post-partum patients with grocery stipends. In addition, Instacart announced Tuesday that in 2024, it is offering co-branded Medicare Advantage plans with Alignment Healthcare that offer food as medicine programs to seniors.

San Francisco-based Instacart is a grocery technology company. With Instacart Health, the company is rolling out solutions to improve food insecurity. Mount Sinai Solutions is part of Mount Sinai Health System and serves employers and unions.

Through the new partnership, the companies will offer a $110 grocery stipend to patients of Mount Sinai Solutions’ employer and union customers after they leave a health facility for events like a joint replacement, birth or bariatric surgery. This partnership is available for patients who receive care at Mount Sinai facilities in New York City and extended partners in Connecticut, Florida, Massachusetts, New Jersey and Pennsylvania.

These funds can be used for fresh groceries, pantry items and household essentials. In addition, they’ll gain access to a Mount Sinai Virtual Storefront, where they can shop for provider-recommended foods from local, regional and national retailers through Instacart.

“The program gives patients covered by Mount Sinai Solution’s network the additional access, education and support they need through their recovery,” said Sarah Mastrorocco, vice president and general manager of Instacart Health, in an email.

As well as partnering with Mount Sinai Solutions, Instacart is working with Alignment Healthcare to launch co-branded Medicare Advantage plans starting January 1, 2024, in California’s Los Angeles, Marin, Orange, San Diego, San Francisco, Santa Clara and Stanislaus counties.

In addition, the Alignment Health Platinum + Instacart HMO plan will be offered to eligible Nevadans in Carson City and Clark, Douglas, Nye, Storey and Washoe counties. The plans are pending regulatory approval, however.

Members of these plans with a qualifying chronic condition will have access to $50-$100 quarterly grocery allowances from Instacart. They’ll also get an Instacart+ membership (which includes free delivery on orders over $35) and a customer support line to help members with their Instacart account. Like Mount Sinai Solutions’ patients, the plans will have an Alignment Health Virtual Storefront to shop items recommended by Alignment.

“By providing members with a curated Alignment Health Virtual Storefront on Instacart, they can easily shop from recommended items, add them to their cart and checkout using their health benefit card as payment,” Mastrorocco said.

The announcement of these plans comes after Alignment released a report that showed food insecurity and lack of transportation access are among the top social barriers affecting senior health.

Instacart declined to say the business model of the arrangements with Mount Sinai Solutions and Alignment Healthcare. Mastrorocco said the company aims to “use the power of Instacart’s platform, products and partnerships to empower healthy living. Working alongside health professionals, hospitals, businesses, nonprofits, researchers, and policymakers, we aim to champion nutrition access, resources, and education.”



TRUISM

[TRUISM]

INSTACART HIGHLIGHTS NEW TECH AT GROCERYSHOP
By Timothy Inklebarger on Sep. 28, 2023
LINK




Jerry Baki, retail partnerships with Instacart, demonstrates the new generation of AI-powered smart carts. / Photo by Timothy Inklebarger



It’s been a big month for San Francisco-based grocery tech company Instacart, with the launch of its long-awaited IPO at the end of August and the recent rollout of new technology such as its ChatGPT-powered function “Ask Instacart.”

The tech company was off to a bumpy start, though, in its first month of trading on Nasdaq under the ticker symbol CART, with its stock price, originally set at $30 a share, dropping to just below that by the close of the market on Thursday.

The last-mile delivery company was out in full force at last week’s Groceryshop conference in Las Vegas, though, and gave attendees a tour of the new tech its launching at grocery stores across the country. Winsight Grocery Business caught up with Instacart for a quick video tour of some of its newest tech.




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INSTACART SHARES FALL FURTHER BELOW IPO PRICE
By Noel Randewich-Wed, September 27, 2023 at 1:04 PM EDT
Reuters




(Reuters) - Instacart's stock dropped 4% on Wednesday, marking a fresh low a day after it closed for the first time under the price in the grocery delivery platform's high-profile initial public offering.

Shares of Instacart, formally called Maplebear, last traded at $28.71 compared to the $30 price set in its IPO on Sept. 18.

Retail investors bought almost $12 million worth of Instacart shares in the company's first trading session, and net purchases have steadily declined since then, amounting on Wednesday to about $100,000, according to Vanda Research, which tracks retail trades.

SoftBank-backed chip designer Arm Holdings fell 2.5% to $52.19, just above the $51 price in its IPO two weeks ago.

After closing with a gain of 12% in its first session, Instacart has steadily lost ground.

Arm's shares have also mostly declined after surging in their Wall Street debut, touching intra-day lows below $51 in three of the past five sessions.

Arm's and Instacart's recent listings have coincided with a drop in Wall Street's main benchmarks as investors worry that the Fed could keep interest rates higher for longer than previously expected.

Their lackluster performances since their market debuts add to doubts about whether a hoped-for revival in IPOs will materialize after a drought of more than 18 months.

Meanwhile, shares of Klaviyo, which debuted a week ago, climbed 0.6% to $34.32 on Wednesday. The marketing automation firm's stock remains above its $30 IPO price, but well below its intraday high of $37 in its first day of trading.





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Instacart's Stock Ends Below IPO Price for First Time
By Reuters-Sept. 26, 2023, at 4:23 p.m.
US NEWS



FILE PHOTO: Instacart employee Eric Cohn, 34, navigates a Safeway grocery store while preparing a delivery order while wearing a respirator mask to help protect himself and slow the spread of the coronavirus disease (COVID-19) in Tucson, Arizona, U.S., April 4, 2020. REUTERS/Cheney Orr/File Photo REUTERS



(Reuters) -Grocery delivery platform Instacart's stock on Tuesday closed for the first time below the price in its initial public offering.

Shares of Instacart, formally called Maplebear, dropped 1.65% to end the session at $29.89, compared to the company's IPO price of $30 on Sept. 18.

Chip designer Arm Holdings' stock dipped 1.69% to $53.52 compared to the $51 price set in its IPO on Sept. 13. After surging in its Wall Street debut, Arm's stock has mostly lost ground, and it has touched intra-day lows below $51 in three of the past four sessions.

Meanwhile, shares of Klaviyo, which debuted last Wednesday, dipped 1.6% to $34.11. The marketing automation firm's stock remains above its $30 IPO price, but well below its intraday high of $37 in its first day of trading.

The lackluster performances of Arm and Instacart's stocks since their market debuts add to doubts about whether a hoped-for revival in IPOs will materialize after a drought of more than 18 months.

(Reporting by Noel Randewich in Oakland, Calif., and by Niket Nishant in Bengaluru; Editing by Shweta Agarwal and Aurora Ellis)



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What Instacart's IPO Means For India's New-Age Firms-EXCERPT
By Rishabh Bhatnagar Sep. 25, 2023,
LINK







The success of U.S.-based Instacart's initial public offering bodes well for India's new-age companies, both listed and soon-to-be listed. On debut, the grocery delivery firm's shares opened 40% higher at $42 apiece after selling for $30, the upper limit of its price band. The stock closed at $33.70 a pop in New York on Tuesday, giving the company a valuation of $9.3 billion.

While the stock gave up its gains in the following days, the sentiment for its offering shows the viability of business models that consumer-tech and venture-capital backed companies have been striving for, in India and abroad.

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5 Reasons to Buy the Instacart IPO
Story by Rick Munarriz •24minutes ago
LINK



I wanted to hate last week's Instacart (NASDAQ: CART) offering. The undisputed leader of third-party grocery deliveries hit the market with all the swagger and confidence of a shopper trying to sneak a dozen items through the 10 items or less checkout lane. I figured there was no way that Instacart would pan out as a long-term investment.

Am I an active user on the platform? Sure. It's convenient, and there are plenty of opportunities to buy Instacart gift cards online at a discount. There are also several credit cards that provide monthly credits to use the service. However, my doubts about the Instacart business model make up a lengthy shopping list. Will consumers put up with the platform's product pricing markups?

Can it incentivize its fleet of last-mile contractors in a gig economy with less laborious alternatives? With DoorDash and Uber Technologies encroaching on Instacart's turf, can it cling to its niche dominance?

Then I did what any good investor should do. I cracked open the offering prospectus and looked for the reasons to justify my initial bearishness. In the process of spooning through the metrics I found that Instacart tasted different -- better different -- than I was expecting. The red flags were there. The green shoots surprised me. Let's go over a few reasons why Instacart could be a winner for risk-tolerant growth investors.


1. It's a ground-floor opportunity


Instacart priced 22 million shares at $30 apiece late last week. It wasn't a surprise to see the shares skyrocket on their first day of trading last Tuesday. It's a high-profile debutante after all. The stock opened at $42, but hype collided with gravity. Instacart closed out the week exactly at $30.

Last week was a round trip to nowhere. Today's buyers can get in at the initial public offering (IPO) price, and not the elevated pop that some unfortunate individual investors chased out of the gate. An argument can be made that Instacart is expensive even at its IPO price.

Getting in on the ground floor isn't a bargain if the elevator then goes down to the basement. Instacart may or may not be a broken IPO in the coming months, but for now, waiting a few days for the stock to return to its $30 IPO price was the right move.


2. Revenue is still growing


Instacart mentions in its prospectus that gross transaction value has grown at a compound annual growth rate of 80% between 2018 and 2022, but the headiest of that growth took place early in that five-year timeline when Instacart was a lot smaller. It doesn't mean that Instacart isn't still posting double-digit-percentage gains on the top line.

Revenue for Instacart rose 39% last year, accelerating from the 24% ascent it posted in 2021. Revenue is up a healthy 31% through the first six months of the year. Despite DoorDash and Uber expanding beyond restaurant delivery and supermarket chain Kroger pushing its own direct-delivery model, Instacart is finding ways to grow its business.


3. Instacart is surprisingly profitable


One of the biggest surprises with Instacart is that it's already generating positive net income. Instacart was profitable last year even after backing out a favorable income tax benefit. It's only building on its results in 2023.

Instacart's operating profit was $62 million for all of 2022. It's at a beefy $269 million through the first six months of this year.


4. It's just getting started


Instacart is stickier than you think. It has facilitated 263 million orders for $29.4 billion in gross transaction value over the past four quarters. You pay a premium for the convenience that Instacart offers by saving you a trip to the store, but folks are paying. Instacart's 7.7 million monthly active orderers are spending an average of $317 a month on the platform.

U.S. online grocery penetration has gone from 3% of the market in 2019 to 12% last year. The ceiling isn't 100%, but it's a lot higher than 12%.


5. It all ads up


One of the more interesting morsels about the Instacart model is that advertising is a significant part of its revenue mix. Instacart generated $740 million in ad revenue last year, 29% of its reported revenue. It's a similar 28% share of the top-line mix through the first half of this year.

You might not think of Instacart as an advertising company, but it makes sense. Instacart offers home delivery for chains making up 85% of the U.S. grocery market. With 5,500 brands vying for attention, why wouldn't they pay Instacart to stand out at the moment of purchase, potentially minutes before delivery and possibly consumption?

These same brands pay physical grocery stores for prime shelf space and inclusion in weekly circulars. Instacart is feasting here as a tech platform without the burden of the razor-thin margins that plague supermarket operators.

Instacart doesn't belong in every investor's shopping cart. It's risky. However, take a closer look and you may be surprised to see it come home with you.




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