Instacart CEO says online grocery shopping has room to grow
ABC News
When the pandemic hit the U.S. last year, grocery delivery company Instacart suddenly became a lifeline for millions of consumers
When the pandemic hit the U.S. last year, grocery delivery company Instacart suddenly became a lifeline for millions of consumers. Sales volumes skyrocketed; in one month, the company added 300,000 drivers to keep up with its orders.
“We saw five years of growth packed into one year,” Instacart CEO Fidji Simo said.
Demand has waned this year but remains above pre-pandemic levels. San Francisco-based Instacart —— which is a private company —— expects to see double-digit transaction growth this year.
But the company —— which offers delivery from 55,000 stores in the U.S. and Canada through its 500,000 contract workers —— is also trying to expand in other ways, like offering advertising services and non-grocery delivery from stores like Dick’s Sporting Goods. An initial public offering is likely in its future.
