Instacart pairs grocery shoppers with independent suppliers. The suppliers source products from Walmart Inc., Kroger Co and CVS Health Corp. The products are dispatched to the customer’s doorstep within hours. It is similar to Sheng Siong, Singapore’s online grocery, except it is on a much larger scale.
A fisherman’s daughter may have caught Tech’s next big trend. Instacart’s CEO Fidji Simo has been at the centre of this year’s hottest IPO. Her beaming smile and thick spectacles are now familiar.
The grocery delivery platform is up 20% in the first two days of its listing. It is trading at US$12 billion ($16. 4 billion), 40% higher than its private market valuation in July.
