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Online Grocery

All articles tagged with #online grocery

business2 years ago

Instacart's Q3 Revenues Beat Expectations Despite $2 Billion Loss

Instacart reported a $2 billion loss in its first earnings report since going public, but its sales exceeded expectations and the company expects mid-single-digit growth in the total value of transactions. The loss was driven by significantly elevated stock-based compensation during its IPO. Despite facing headwinds such as the end of COVID tailwinds, reduced government aid, high interest rates, and inflation, Instacart remains confident in its position and long-term view on online grocery adoption. The company faces competition from large rivals like Walmart, Target, and DoorDash, and its stock price has fallen since its IPO.

via MarketWatch|
#business#competition#earnings-report
business2 years ago

Instacart's IPO Flop: Stock Plunge and CEO Exit Raise Concerns

Instacart's shares plunged nearly 11% on its second day of trading, wiping out most of its gains from its initial public offering (IPO). The stock had initially surged 40% on its debut but steadily declined throughout the day, closing just above its IPO price. The falling share price suggests investor hesitation towards tech companies disrupting traditional markets. Analysts have expressed skepticism about Instacart's growth prospects, citing flat unit growth and structural headwinds against adoption. The grocery delivery company joins other gig economy companies on the public market, with only Airbnb proving to be a successful investment so far.

via CNBC|
#business#gig-economy#instacart
business2 years ago

Instacart's IPO Valuation Targets Range from $7.5B to $9.3B

Online grocery firm Instacart has filed an updated IPO filing, aiming to raise up to $616 million in fresh capital and achieve a valuation of up to $7.7 billion. The company plans to issue 22 million shares, with an offer price range of $26 to $28 per share. Instacart's total common stock outstanding will be around 276 million shares, potentially reaching a valuation of $7.7 billion. The IPO comes as Instacart faces competition from traditional retailers and tech companies like Amazon, DoorDash, GoPuff, and Grubhub.

via CNBC|
#business#fundraising#instacart
business2 years ago

Walmart's Innovative Changes for Online Orders and Delivery.

Walmart's Market Fulfillment Center in Arkansas is using an automated bot called Alphabot to help associates fill online grocery pickup and delivery orders faster. The system uses a proprietary storage and retrieval system to hold inventory separate from the store floor. The bot retrieves items from the storage system and brings them to an associate at a picking station, where "pick to light" technology guides the associate to which item to pick and which bag to place it in. The system is creating new jobs and opportunities for associates, and is already enhancing the customer experience by reducing congestion on the store floor.

via Fox Business|
#alphabot#automation#business