Source: The Economic Times (India) Grocery delivery app Instacart raised its internal stock price by 18% in late February compared with December, The Information reported on Sunday, citing a person with direct knowledge of the matter. Instacart's improvement reflects financial results from December, January and February, as well as the [...]
By Mark Hamstra Source: Supermarket News Instacart has reached a $5.25 million settlement with the city of San Francisco concerning payments to workers for health care and sick leave, according to an announcement by the city on Thursday. The settlement was the result of an investigation by the San Francisco [...]
By Maureen Farrell and Lauren Hirsch Source: The New York Times Instacart, the food delivery company, is pulling its plans to go public in 2022, in the latest sign of turmoil in the public markets, three people with knowledge of the situation said. The company had been one of the [...]
By Jeff Wells Source: Grocery Dive Instacart has slashed its valuation by nearly 40%, to around $24 billion, the company said on Thursday. It had posted a $39 billion valuation last year. The move comes amid slowing growth on Instacart’s marketplace and increasing competition from e-commerce companies like DoorDash. “We [...]
Labor advocates called on the grocery delivery platform Instacart to reverse a decision to lay off hundreds of employees, including the company's only unionized workers. Instacart informed employees earlier this week that it will be cutting nearly 2,000 jobs, including roughly 10 in-store shoppers at a Skokie, Illinois supermarket who [...]
A growing number of large US chains are offering their workers incentives to get Covid-19 vaccines. Grocery chain Aldi said Tuesday that it will provide its hourly workers with two hours of pay for each vaccine dose they receive, giving workers up to four hours total of paid time off. [...]