APRN - Instacart GrubMarket Raise Funds During Pandemic-Driven Grocery Delivery Boom

Before the pandemic hit the United States, Walmart (WMT) Grocery led the grocery delivery industry, consistently staying about a 50% market share of sales, according to Second Measure data. In March, Walmart dropped to a 25% share as it struggled to keep up with the surge of demand. Instacart (ICART) rose up the ranks, hitting a high of 57% in April before settling down into a 48% share in June. The market gains required Instacart to quickly expand its workforce and customer experience, which costs money. Last week, Instacart received a fresh $200M infusion at a $17.7B post-money valuation. D1 Capital and Valiant Peregrine Fund led the round, which follows a $225M round in June and $100M round in July. Instacart says it now has 500 retail partners and delivers from nearly 40,000 store locations across the United States and Canada. “We expect to deploy the new capital in a

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Instacart, GrubMarket Raise Funds During Pandemic-Driven Grocery Delivery Boom